December 1, 2008

Today's Market




This is a chart of the Dow for the past two months. What was today's horrible action about? The government told us we have been in a recession since last fall- not much of surprise. Retail sales in dollars were okay last friday but so much was being given away, probably most sales with slim to no margins. Today's action gave up 50% of the past five trading days' move. I mentioned last week that I didn't trust that move because it was on declining volume.

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