The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

22 August 2008

A brief market update

In early trading -- a mere 20 minutes into the session -- the market averages and indices, among them the Dow Industrials, Transports, and Utilities, and the S&P 500, each build upon their increasingly bullish foundations.

And while some are farther along than others in the process -- e.g., the NASDAQ Composite vs the DOW and S&P -- the latter averages nonetheless enjoy important and crucial upside breakouts this morning. Of course, today being a Friday, closing levels are of paramount importance.

In similar vein, and just as an example, Google/GOOG nears an important, albeit not crucial, internal breakout. Ideally, that breakout would occur this coming Tuesday (the 26th) to form a double upside breakout. The breakout, when it occurs, would demolish the "obvious" ugliness of its chart pattern, a fact I alluded to in my Tasseomancy post.

As always, only time will tell -- although the (correctly perceived) charts betray all.

-- David M Gordon / The Deipnosphist


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