This IS NOT a reason to buy here, but I’m not sure you should be selling or stopping either. If you bought as a hedge against something (inflation or deflation or armageddon) then hold. But look at the support right here…

BTW–this chart was posted Sunday July 25th.

Since Tuesday morning, July 20th:

DOW up 517 points or 5.1%
SPX up 58 points or 5.5%
NAZ Comp up 136 points or 6.3%
TRANS up 428 points or 10.5%

Watch. Now everyone will turn bullish and the media will tell you how much better things are doing. In fact, the bearishness was so thick that hardly anyone on these boards was in anything but a hedge or in 100% cash…

Plus, the Administration looks done. Between being scared of Glen Beck and now the Wiki-leaks, don’t expect anything to happen other than damage control. It is amateurs on parade. That’s what you get when you elect a rookie. The markets love it…and don’t forget to watch the View on Thursday!

How about this pretty picture? Still another big hurdle to get through: 1130…

Took some flack for putting this out last week. How’d we do?

http://tinyurl.com/2agt7hy

You know we caught this falling knife. We are currently up over 20% and holding.

This just passed the bogus “Stress Test”. Plus, it has basically been guaranteed survival due to its favored status in the Irish Government. I know we are crazy for buying this but I view it as a lottery ticket. Won’t really care if its worthless, but I bet it’s not… 

We own at 2.25 and it has been bouncing around in the low-to-mid two dollar area.  It can easily get to the 4 area…