Saturday, June 7, 2008

Followup On Investor's Business Daily

Not surprisingly, IBD changed its Current Outloook to "9th day of attempted rally for Nasdaq". However, I wouldn't be surprised to see it changed to "Market in correction" by the end of next week. This kind of action is what leads many traders to get confused or jump ship. IBD hasn't done anything wrong here. In general, its commentary can be trusted, but experienced traders should be able to form their own opinions and act accordingly.

With the Dow heading lower, it may be only a matter of time before the Nasdaq turns tail and catches up to the downtrend.

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