Wednesday, December 16, 2009
ENTANGLING: UNFAVORABLE MARKET CONDITIONS
RANGE COUNTER: 25 DAYS
Home, home on the range
Where the bulls and the bears wrestle each day
Where seldom is heard an encouraging word
And the charts are not working all day.
(Sing to the tune of “Home on the Range”)
Range counter is at 25 days now as market ends up flat after the FOMC statement. I thought I would leave the tune up for another day just so it can follow you around all day. Nothing much to say here other than we are still stuck in a range. Our plays are still stuck, some up, some down, and some flat. Some surged this morning to end flat; others fell back from the get go; and then others did nothing. Like I have been saying, without the futures giving us a good break there is just not much happening. For me, it is best to step aside; for others it is another baby step without much direction.
