Wednesday, August 11, 2010

Dow 11,000: NOT!

Our breakout prediction was smashed by the remarks of The FED yesterday. I guess you can yell fire in a crowded theatre if you are the government. They don't even bother to think when they speak anymore. The market had a really good chance of recovering until they opened their mouth and ruined the party. We got hit by this reversal. We lost some of our profits for the month. Stay tuned. We sit in cash.