Running Out Of Steam

A solid rally simply ran out of steam as yesterday’s chart clearly shows.

The Dow, which was up some 175 points at one time, gave it all back as bullish sentiment faded into the close.

Fed chairman Bernanke tried to chime in this weekend by attempting to spread a dose of optimism during a rare TV interview on ’60 minutes.’ His view of the recession coming to an end “probably” this year can’t be taken serious as he was of many officials who did not see the perfect storm brewing last year.

On a different note, reader GH pointed towards an interesting website, and especially a Podcast featuring Harry Dent and Mish Shedlock.

It’s about an hour long, but well worth the time listening as the host of the show has some not so kind words to say about ‘lazy portfolios,’ ‘buy and hold,’ ‘incompetent brokers,’ and several other issues that I have touched on from time to time.

Go to this link and scroll down the page until you see the Podcast icon. Then play or download at your convenience.

About Ulli Niemann

Ulli Niemann is the publisher of “The ETF Bully” and is a Registered Investment Advisor. Learn more

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