Thoughts on Markets

Wednesday, September 17, 2008

Both the DJI & TRANS Headed Lower

Folks, this is an ominous sign with both the DJI & Transportation confirming one another. Were the DJI to close where it is now well below the July 15th low and the Transportation to drop another 100+ points, we would have a double confirmation of a bear market. This is crash territory.

So far, the volume on both is light which is somewhat of a blessing. Without huge volume, we do not have panic selling. However, there must be some quantity of margin calls out there.

My puts on XLF (January) and MTW (October) are working nicely today. Both are in the black. Perhaps, tomorrow will be an up day, so I can add to both.

Here is the latest on gold. Quite a contrast, I'd say!

Keep your thoughts on King Jesus and His many blessings. Cling to His promises at all times.

Best to each, Doug


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