Welcoming in the New Year

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My apologies for the lack of commentary, however, I am trying to upgrade the site a bit. Along with my activities elsewhere its been a bit slow here.

At any rate, let’s just jump right into the markets. I believe we are approaching the breaking point for this market. At the moment we are rallying off lows on lower volume. VIX and VXN have not confirmed any low yet like they did on Aug 16th. Each new low brings these two indexes at lower and lower levels. Simply put, there is absolutely no fear at the lows. We have yet to put in a bottom, so far we just have an oversold situation rally here.

I would not be buying simply due to an oversold rally. What is a great game plan is to start testing the Ultra-Short ETFs: TWM, QID, SDD. Another approach is to look at our giant tech leaders: GOOG, RIMM, AAPL, BIDU. I would be entering in shorts on low volume rallies back to these leaders 50dma.

Back to the blog, I am looking for a nice picture to string across the top. If any reader can find and send me the picture I’d be most greatful!

Market Speculator
marketspeculator@market-speculator.com