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Fried to the point of a typo


The only guarantee I can give you is that I am burnt to a crisp today and am very much looking forward to the 3-day weekend. Between terrorism alerts, rumors, action in the market and trying to hide my relationship with daisy from my wife, there isn't a lot of steam left in the 'ole engines.

Again, the "key event" that everyone was waiting for has created more confusion than resolution and as a result, the markets are decidedly mixed. The UN Security Council remains divided, NATO is divided and at the end of the day, the time line for resolution to the most pressing geo-political issue remains unclear. Again, I think the markets are holding their own because of a lack of sellers more than any real interest in buying. Right now the indices are in the middle of the downtrend channel so, as Toddo has so eloquently suggested, there remains no edge.

Also, there was a typo in my morning article. The second the last paragraph read;

"Based upon what I saw and what he was saying, I concluded that a bounce (especially given that people were more concerned about buying plastic sheets and tape than buying stocks) was very possible. Yesterday's bounce brought the S7P 500 (SPX) and NASDAQ 100 back toward the middle of the downtrend channel, which means that chasing the opening might now make sense because the upper end of the downtrend channel lines are likely to be reached. I put those between 825-830 on the SPX and 970-975 on the NDX (remember that is sloping down which means as each hour goes by, the upper end of the channel gets lower in price)."

The word "now" in the second to last sentence (italics) should have been "not." Most of you who know my style and me by now probably glanced over it knowing what I meant, but I want to be very clear to the new readers on the site. It continues to amaze me how one word can so dramatically change the context of a written thought.

Sorry if it caused any confusion and thanks to the citizen who pointed it out.
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