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Message: A Big Day for the Markets

A Big Day for the Markets

posted on Jun 27, 2008 03:10AM

This will be a big day for the markets and one in which the Dow shows to us the true flavor of its wounds. Either the Dow will come roaring back, which means it has bought itself some more time or it really breaks, down another 300 or 400 points. If that happens, the Transports might just go with it, and all heck could break loose. We shall see. If it moves less than fifty points in either direction, I'd call that essentially a non-move. Then the weekend will help decide in the minds of the market where it will go on Monday, but the game will be the same. I think the chance for the big break is greatest today, before giving people the weekend to think everything over and decide, incorrectly in my view, that everything isn't as bad as they think it is. In any event, we shall see. Bull

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