The Day Ahead: Bounces and Broken Charts

There is a reason why a Bible is found in the top drawer of a hotel suite. It's a reminder to do the right thing in life. So let the financial-media version of televangelist Joel Osteen lead you to the investing Promised Land. First, a couple of themes in the emails I am receiving:

Is this rally real? Are we back on a path to year-end prosperity? What should I do now? I missed a 2.1% retracement (yes, you did, and I know it's a life-ruiner). Why am I forced to root for a bad U.S. economy so that my carefully managed stock portfolio expands in value? Does a soft second quarter from the financials equate to a gloomy overall upcoming earnings season? I mean, no love by the market was shown to investment banks in Wednesday's rally. Should I place any stock in the increased frequency of stock rating downgrades this week? Gold is plummeting, must signal deflation, and a litany of sour macro reports in the months ahead.

Brother Sozz doesn't have precise answers to the questions above to take and ponder by the in-ground pool bought using leverage in mid-2007. Personally, I feel this is a bounce made so by hot air from global government lifers. If you look at countless charts of individual stocks, they remain broken -- simply no volume and crossing of the 10-day moving average (not in every case, of course)....430 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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