And The Winner Is

Obama made history last week and has been elected the 44th President of the United States.

The markets reacted with a two day drop of 9.7% the biggest 2 day drop since the market crash of October 1987.

The week has seen joblessness hit a 14 year high at 6.5% and confirmation that the auto sector is bleeding dry.

Obama has stated that he will confront this economic crisis head-on after becoming President. Yah think!!!!

Robin Hood to the rescue. The only difference is that all will be paying for this crisis.

Having said that I still think we are in the wave 4 with almost all charts still looking the same.

We took a stab at SLV last week with a small gain but like most breakouts are not following through.

Anyone buying must be willing to cut losses short and focus only on strong fundementals.

We have been following AFAM and even it is looking over extended now. (Maybe time to short soon)


Although this is the Q's almost all charts look identical.

My advise is that cash is still king but if you are in a position to day or swing trade lets short Thursdays low (but be ready for the buy fractal just in case the market rallies from her.)

Keep your stops tight.

Peter