Comments on Fund My Mutual Fund: Weekly Summary

Hey Mark,Do you think IBM is making a double botto...

2008-11-17T11:45:00.000-05:00

Hey Mark,

Do you think IBM is making a double bottom in the low 80's here? I was considering making a purchase today on the dip...

Good question. I am basing my predictions based on...

2008-11-17T08:21:00.000-05:00

Good question. I am basing my predictions based on FXY. It seems to me that FXY is overbought and the rally will coincide with FXY dropping from its highs. Besides, the MACD's and prices are showing some divergence. The situation will be clear this week (we need a positive close today). I think this is a good opportunnity as we have a clear stop below (OCt 10 lows).

Too many people are expecting the market to take out the Thursday's lows and the # of stocks above their 50day EMA is just 5%.. This has been a classic indicator of bottom. There are no gurantees in this crazy market though. Unlike you (mutual fund manager), I (smallt trader) have my one foot out the door :).

Just curious, there have been 2 previous reversals...

2008-11-16T23:34:00.000-05:00

Just curious, there have been 2 previous reversals in past 4-5 weeks, about 10% each, just like this one. What sets this one apart to you from those 2?

I think Friday's action was to shake off some weak...

2008-11-16T23:33:00.000-05:00

I think Friday's action was to shake off some weak hands. The reversal on Thursday was promising and I have my long bets in the hopes that we see a big rally next week.

being in the optimistic camp...