Day: January 15, 2005

That, My Friend, Is a Downtrend

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Lower high and a lower lows…  That’s the definition of a downtrend and that is what you see above.  If we don’t soon recover and get back above that 50-day moving average we could see some carnage.  Of course after this Thursday’s presidential inauguration is over, assuming no "event," then we could well get that recovery.  And if there is no event and there is no recovery, then the thing will probably drop like a stone.  Tune in next Friday, January 21, 2005 to see.