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Stock Market
Posted on July 02, 2008
TechnicalIn last Friday's post I mentioned that the market had fallen to atradable oversold, but that I was not going to play this week, asthe recent action gave me considerable pause. Today, the SP 500fell to a new cyclical closing low near 1260, taking out the doublebottom set earlier in the year around 1275. So, the oversold hasintensified, but now it may be wise to see if there is a breakawaydownleg in the offing. I am going to give it a few days, lettingeveryone sleep on it over the long weekend.FundamentalThe key elements I follow to see if there is a cyclical buy in theoffing are not in...
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