Wednesday Outlook: Holding the Line

Not that AMBAC (ABK) thing again! The line of the day came from Ken Tower, chief market strategist at Covered Bridge Tactical [reads like heavy industry to me], who said of the rumored deal: “The AMBAC deal that seemed so sure last week, I was expecting it to be slipped under the door like a hotel bill at any moment.”

Volume was heavy and breadth was negative again. [And, Yahoo Finance can’t add columns correctly sometimes.]


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The previous Four Horsemen which led tech have yielded to even bigger names like Microsoft (MSFT) for example. But, most of the former are fighting like mad at support levels which seem clear.


















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Comments

[Grumann:]

Great Charting. Very helpful. Keep them coming. More analysis would be even better. Thanks.

2008 Mar 05 11:11 AM