Any time Timmy Geithner is You Tubed (like he was today), the sober investor who has gains to realize is going to start making sales. This is not a political comment – this is simply one of my personal judgment. However “smart” the Washington/Wall Street brain-trust claims him to be, Timmy is a squirrel hunter - and I don’t trust him.
The trading range that I’d like to start covering/buying stocks again continues to shift to higher lows (753-780 in the chart below). As the market’s trading range narrows and volatility continues to rally to lower highs, the market’s March 9th bottom looks more convincing as an established intermediate term low.
Buy low, sell high.
Keith R. McCullough
CEO & Chief Investment Officer