Wednesday, July 22, 2009

Thoughts from the Vortex

Morning gang!

The market is trying to breakout to the upside on all the companies posting better than expected earnings. Even though the earnings were derived from cost cutting and advances in technology which reduces headcount. Most companies are forecasting lower revenues in the 3rd qtr. Seems to me risk is high. The cycles are pointing down into September October. A break of 920 ish could begin a crash like decline. This can still happen even on the last couple of points to 980 or 1020 which is 1080 degrees up from the 666.

MS reported bad earnings today... it is running higher. I'm shorting here 27.15 2 pt stop swing

stopped out of all energy.....of course it reversed after. Looking to reenter.
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