Cramer says that we have seen the bottom. Indeed, if you read the daily charts, both XLF (financials) and XHB (housing) have broken out of their downward trend lines, and posed to move up. However, if you read the weekly chart, it is obvious that the recent upward move is only a rebound, not a recovery.
( my post on April 1, "Listen to the market" )
Remember the early debate?
“Will the US slow down drag down the China boom, or, will the China boom help lift the US?”
Let’s check FXI, the China fund.
The China fund acts exactly like the financials (XLF) and the Housing (XHB): the daily chart is reversed to the upward trend, but the weekly chart suggests that, more evidence is needed to confirm a recovery.
MJ conclusion:
We have sent the patient to the hospital through 911 emergencies. The doctors had an emergency group diagnosis, and have done their surgeries. The patient also took medication. Now the patient is sleeping quietly in the hospital bed. We, the careers, finally get a break.
We think: the worst is over. But, the patient is still in the hospital bed, and the medical report is still not out yet.
I like ANMJ on FB & just subscribed to the email feed! :)
Posted by: moncler netherland | December 13, 2011 at 01:58 AM