December 18, 2008

Indecision

Yesterday was completely indecisive. The averages are still above the 50MA, did not break the December high and closed down a bit. The advance/decline lines were slightly positive but more neutral than anything. The biggest movement was the dollar which continued its fall which can be good for exports if anyone is buying. The economy may suck but there is a lot of money sitting in cash and historically low-yield treasuries. Someday that money will be looking for higher returns and head to the stock market.

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