Monday, December 11, 2006

Weekend Commentary from Fallondpicks.com

Newsletter, Members Click HereWeak gains on Friday's data did little to give back to the bulls the ground they ceded to the bears on Thursday. Plenty of support below but the July-December rising channels have been breached in the NASDAQ, Dow, and NASDAQ 100, only those channels in the Russell 2000 and S&P remain. The semiconductor index took the biggest hit Friday, but none of the indices suffered significant technical damage on the day and it is only the weakness in tech market internals [$NASI, $NAA50 and $BPCOMPQ] which suggest a significant top is close to been in place (if not in place already). To once again repeat a mantra, I am 'stuck' on the bearish side of the fence for the Ticker Sense Blogger Sentiment Poll on the 30-day picture.


Newsletter update:

GFI clipped its raised stop at the lows of the day. The October 18th and December 1st Subscriber plays closed for a 3% gain and a 6% loss respectively.


 
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