"IT'S JUST MY OPIONION" - VOL. 13
The Market is not a sprint - it's a marathon! Today because the ECB lowered rates by .25 basis points - idiots are saying the FED will start their tapering ahead of schedule. Are you kidding me! They have stated that they want to see the unemployment rate around 6.5% - that will not happen soon!
What they are not saying is that the FED does not trust Washington and their fiscal policies! That is important and no one is saying that. Oh, the unemployment numbers are going to be bad because of the government waited to the last minute to get the job done! There's another reason for the FED to keep rates down and not tapering. So why did the market go down today? It's not a sprint it's a marathon!
Nothing ever goes straight up - nothing! Let the market settle down or even go downward for 4 to 5 days. However, my weekly chart work says we are going higher in the DOW.
Obviously, money sold this stock market today and accumulated a lot of cash. This cash is on the sidelines waiting to get back into the market,
When will they get back in?
I have a very unusual answer.
The answer is GOOG - I know this sounds crazy but listen up. GOOG was trading around $880 before its last earnings - now as a chartist it left a huge gap when it went up and went over $1050.
When that gap is filled around $880 a share - this market will bottom!!
Just remember there is a lot of cash on the sidelines - this money is looking for an entry point.
I just gave it to you - now lets see if I'm right.
I was right back in November in 2012 telling everyone that the DOW would achieve 15,700!
We shall see.
Len Dwelle
http://marketmoneyandnews.blogspot.com/
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