WHAT’S UP? – Mini Me & GM – GM Solutions, outside the box, Michael Moore – Market Patterns – Volume still not confirming rally.

GM, Mini ME & Solutions

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Verne Troyer plays Mini Me in Austin Powers

Mini Me Photo from Yowzza.com
Mini Me was Mike Myer’s (Dr Evil’s) alter ego in the movie Goldmember.  If GM come out like miniature version of the old GM focused on short term greed and quarterly profits it will fail. There have been a zillion editorials on how to fix GM over the last few days (see RealClearMarkets.com) Few of these offer outside the box thinking that are innovative and create long term solutions. 
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One editorialist stands apart. You may not like him, but film maker Michael Moore’s  solutions deserve consideration. After an unnecessary introduction, he offers 10 solutions. Again, you may not agree with all his concepts, but they offer debatable alternatives to Mini Me. See Goodbye GM.
Michael Moore at the Westwood premiere of Columbia Pictures' Spanglish
photo Steve Graintz
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STOCKS

AS ALWAYS, DO YOUR OWN RESEARCH BEFORE INVESTING

Index Percentage % Volume
Dow +0.22% down
NASDQ +0.44% down
S&P500 +0.20% down
Russell2000 +1.09% -

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Technicals & Fundamentals 

Technical Price & Volume Patterns -

  • Again notice (even though the difference is not as large) that the NASDQ and Russell 2000 are leadingthe other major indexes. From yesterday – The NASDQ(technology) & Russell 2000 (small cap stocks) have taken over the leadership roll. In longer term bull markets the NASDQ and Russell usually lead.
  • The start of each week recently has seen a big move higher followed by a more mellow or declining market.
  • The fact that we held onto Monday’s gains is a bullish sign. 
  • This is not a rally that is specific to the USA, but the world. China, Brazil and other countries broke out of their patterns before the USA.

Reading The Tea Leaves 

Sorry due to a technical glitch I lost everything but this short summery -

Volume still has not yet confirmed the move higher, but cumulatively (each day we hold above breakout levels volume grows) volume can act as a confirmation. Many secondary indicators are positive. This is only our 2nd day above breakout levels. Breakout still very vulnerable. 

 

Long Term Outlook CAUTIOUSLY BULLISH

See Changes in STRATEGY, POSITIONS, & OVERVIEW sections of blog

AS ALWAYS DO YOUR OWN RESEARCH BEFORE INVESTING !

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