Market Takes A Big Hit Friday Dropping All Indexes Below Their 50 DMA
April 14, 2008
The indexes got pounded friday after GE came out with numbers that were worse than expected. This selling dropped the Dow, S&P, and the Nazz back below the 50 dma. If we will see strength begin to emerge the indexes will have to find support here. Better yet, I would like to up days accompanied with some volume telling us that the pension funds, mutual funds, insurance companies, and hedge funds are starting to put their money back to work. Until I see that there is no way I can be confident about this tape. I will continue to keep my money where it is safe, in my pocket.
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