Friday, 9 November 2007

Was That the Market Bottom?

Was today's midday reversal the bottom? Or was the selloff into the close a bad sign of more carnage to come? I just updated my table on the "Latest Signals & Results" page with the word from my trading setups based on this afternoon's Commitments of Traders reports. Apart from a couple of renewed bullish signals for the long Treasuries (meaning still lower interest rates are likely, no matter what Bernanke & Co. say), my COTs U.S. Composite Index has bounced back up a little from last week's 0.17 to 0.19 this week. Also noteworthy: my beloved silver setup gives a renewed bullish signal, based on the ramped-up ultra-bearishness of the wrong-way small trader crowd. Nice.

I'll be back early next week with more details on all this, including the drop in my Composite Agri Index. Hope you did okay amid this week's turmoil and have a great weekend.

No comments: