No comment on the stock market??

Technically it looks interesting. Most of the indices,
internationally, took a sharp decline but did
not bounce much on the recovery. One might expect a 30% recovery and
then
a technical test around the first bottom. For the DJI the market
dropped from 11600 to
nearly 11000. It bounced twice back up to just over 11200 but broke
sharply by nearly
200 yesterday to end up around 11050.

The SP 500 and NASDAQ look much the same. The behavior of the market
in the
next week or so will confirm one of two things 1) this has been a
correction and the
market will move upwards or 2) we have a Bear market developing and the
markets
will move down another 10-15%. The US markets have not challenged
their 2000
highs and given the weakening state of the economy, and inflation, they
don't
appear likely to.

Any other guesses out there.

El Castor...

My favorite guru, Don Hays, just turned bullish, but nothing in life
is certain. I would feel more comfortable about Don's prediction if
Gary James would just announce that he has given up and sold
everything. That would be a sure sign that the bottom has been
reached. (-8

"It is useless to attempt to reason a man out of what he was never reasoned into."
Jonathan Swift