Daily Investment Interpretations
October 26, 2009
markets fell again today, and by more than 1%. Yesterday's observation
that the markets could,
possibly, be "in
a topping phase preliminary to a deeper pullback (e. g., down to, maybe,
1,050 on the S&P 500)" looks prescient today. The indices will
have to dip another 1% to 2% to match previous pullbacks (not that
there's any reason why the markets have to behave the way we might
expect them to behave).
The NASDAQ Composite fell another 12.62 points, (-0.59%) to end at 2,141.85, the Dow retracted 104.22 points (-1.05%) to finish at 9,867.96, and the S&P 500 climbed 12.65 points (-1.17%) to 1,066.95. Oil declined to $78.78 a barrel, while gold fell to $1,043. The VIX climbed2.04 to 24.31.
It's probably time to start nibbling on stocks again, such as the (Nasdaq Composite) Proshares Ultra QQQ index QLD..