I’m am making my list of short ETF’s and checking it twice.

A Dow Breakout Will Be a Fakeout

Technically the multi-year bear market is over if the Dow breaks out above the downtrend that goes back to October 2007 and is broken to the upside, and that resistance is 10,520 this week. …

…My call is for a false breakout that forces all shorts to be covered. Then when the fundamentals deteriorate, the new trading range market will seek its low end. The projected range is 6,500 to 11,500 in 2010.

http://www.minyanville.com/articles/dow-breakout-unemployment-recession-bank-failures-minyanville/index/a/25886

Curiously the Dow Dec 4 intraday high was 10516 which it has failed to break.

We are in dangerous territory.

- Kilroy

Related Posts:

• If we see 11,000 on January 4th I will not argue.
• Time to take the chips off the table.
• The true effects of the recession:
• Some thoughts about the market:
• Leave your comments here if you don’t think we’re heading to a depression:

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