Monday, October 16, 2006

Monday Boring Monday

Talk about watching paint dry. That's the problem with the market these days - it is boring. We need a break in the monotony that can only be achieved by a break in the momentum such as it is.

I think that is coming. The up/down ratio is .59 creeping towards a breaking point, the VIX is 8% below its 10 day MA, 1668 stocks achieved 20 day new highs and 107 hit 20 day new lows. All the sisters finished the last hour in the red. And it wasn't some wishy washy pink but a deep red. All of this put together suggests that tomorrow could be a down day.

The magic coin is 18 and 9 having misread the tea leaves again today. For tomorrow ... tails - bear. We'll see.

Earlier I posted regarding gold and oil - for the record both went up today. I think they will continue to do so for awhile.

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