Friday, September 26, 2008

Follow Through Day

IBD called a follow-through day yesterday. It should always be remembered, every follow-through day does not lead to a lasting rally. Nevertheless, IBDs calls should be respected and this is no time to be heavily short. The rally will not be confirmed dead until the NYSE and the SP-500 take out the September 18 lows. Until then, cautiously long or cash is the only place to be.

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