It is directionless. The market has been rushing to go nowhere. Ahead of a feared September, I cannot picture a strong rally over the next week. During this seasonal weak period, I don't want to get long unless we are very oversold, and that is not the current case.
September will provide better long term buys than August. All buys till Labor Day will be quick trades. I expect weakness into the close today.
Monday, August 23, 2010
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