Today's Market
by Dr Invest


Sometimes what you think you see, you really don't. A mirage poses to the viewer, a truth that is not there. Also, the Market is now posing to the viewer, a truth that is not there. The market is not getting better. STAY OUT OF THE MARKET NOW.

Listen, the market was in the tank until the last 45 minutes of the day, when it rallied 153 points. What changed in those last 45 minutes? Bernanke warned today, the economy is in danger of faltering; Italy's government bonds were downgraded by Moody's; and the trend of the market is solidly down in the light that Greece cannot pay its debt. Only the implied promise that by the EUROTRIBE that they will somehow come up with a plan, sparked optimism to move the market 350 points. This just isn't rational and is typical of "Crowd Mentality". This kind of market irrationally clearly shows us that the market has not hit bottom. Alan Greenspan coined the phrase "irrational exuberance". The term "irrational exuberance" is used to describe a heightened state of speculative fervor. STAY OUT OF THE MARKET!

Keep your eye on the price of COPPER. Follow the stock symbol JJC. What you are looking for on the chart is a consistent rise in the price of copper over a 20 day period, 50 day period, and 200 day period. Of course, the longer that copper continues a trend upward, the stronger the recovery.

Bottomline, the market is likely to decline further. Should the S&P 500 get into the 900s, it would be the time to consider buying stocks, provided that there was an upward trend. This could occur toward the end of October. Just keep watching the trend.

(note: the above information is soley for entertaiment purposes only and should not be used for any financial decisions.)