| Bearish wedge? Yup and that's not good |
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| Written by Gary B. Smith |
| Sunday, 24 January 2010 10:48 |
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So it looks like the market finally made a definitive move and unfortunately for the bulls, it came to the downside. You can see in the chart below it shouldn't have been a surprise as the bearish climate was building for months. The tail end of last week really put a nail in it, and while we're oversold (read: maybe a bounce coming), I'd be shocked if Friday marked the lows.
As for last weeks' picks about the best I can say, is that we generally stayed out of the market. Still, the vicious selloff caught us leaning to the bull side, so while HWCC was a winner, SXI, VIA, ICA and NTLS were all losers. |




