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Taking a look at the QQQQ, DIA and the SPY I would
be very careful about being short right here. Each seems poised to make a
break to the upside. Will this be the start of a new bull market? I
doubt it very much. Can it be a devastating bear market rally with
massive short covering? I believe that it could be when the care package
for Wall Street is completed. The Not So Big Three got a $25 billion
lift. The government has, in all its wisdom, decided to bail out a
private company, Chrysler. Over the week end I will post commentary
and charts on the three ETFs.
Have a good week end all.
Just one man's opinion.
Ira
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