T/A Update

[admin]

Thanks Trans. Some more perspectives:

Last week, the S&P 500 (^GSPC) index fell to "some pretty critical levels," including the 200-day moving average and reactionary low of 1,904, Jeffrey Saut, managing director at Raymond James, said on " Squawk Box ." But the index was "very oversold on a short term basis." he added. "It's a logical place to try and rally here. I think it's a bull trap," Saut said. "I think we get a rally attempt here, but I think eventually stocks go lower, but it should be viewed within the context of a secular bull market that has eight to 10 years left in it."

Stocks to rally after 10% correction: Pro - Yahoo Finance

I have to say that I have some trouble taking statements about 8-10 years into the future seriously though..