July 12, 2010

US equity market opened flat, drifted nowhere, closed flat. Low volume and weak technicals. A dangerous looking day with a potential for bids dropping out of the market if earnings expectations don’t do what the market manipulators expect them to do. CSX and Alcoa both reported good results

Short-term: 1 green, 3 yellow – tending yellow
Intermediate-term: 3 yellow, 1 red – tending yellow
Stock targets: 11% swimming, 17% treading water, 71% sinking

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