Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Monday, October 27, 2008

Wild End to a Wild Day

It took me all day to get to posting to the blog because I had issues ... man I had issues.
Anyway, kind of a wild end to a wild day. The Dow opened way down, was up by as much as 200 points earlier in the day and was still positive 15 minutes before the close. But then, things went whee ...!
That doesn't look good. The real weakness (to me) seemed to be in energy shares. Let's look at a chart of DUG, which trades twice the inverse of the Dow Jones US Gas & Oil Index ... So does anything look good on the long side? Keep your eye on gold. It's trying to find a bottom. But it may take a while to do that.

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