Here is the NH_NL for Oct. 1st
It’s a stare down like in the ole wild west. Who’s going to blink first and make a draw for the gun?Mr. Buffet rides into town again making preferred share deal and bagging up 10% dividends, with warrants to boot. The Oracle of Omaha just made a deal with GE similar to GS. I guess in believes that there’s GOLD in them G’s.
As Alex mentioned this weekend and also in an earlier post, it never pays to panic. The market recovered almost 500 points of yesterdays historic decline. Does today’s action we go straight up from here. V bottoms are very rare and most likely we need to test these lows and back and fill to form a good foundation to before we can think of bottom.
We just arrived back from Canada after attending the Spike Reunion. As we drove back to New York the market was taking a dive making a historical drop over 770 DOW points. This came after the bailout plan failed to pass a congress vote.This market is at the mercy of every news related incident. We are seeing NH_NL levels not seen since the crash of 87. NL surged over 2000 today sending the daily NH_NL below -2000.
This week we conclude our third quarter competition and it was a wild ride indeed! The most exciting news is this will conclude how Spike info is delivered and introduce our new website interface!Starting this week each spiker and spectator that submits a pick will use the website interface beginning Friday evening after 5:00pm NY time. The original deadline continues to be Sunday’s at 3:00 pm NY time. I will be sending out in a separate email the new website link and instructions to the site. Please keep us posted with any comment and suggestions.