Author: World Worst Stock Picker
Website: http://worldworststockpicker.com/2009/02/09/the-stock-market…

The mantra in Wall Street is to buy when there is blood in the streets. The mass layoffs and other bad news have presented the best opportunity to accumulate wealth in decades. Friday’s action is very important in that it cements the low 8,000 Dow level as a firm near-term bottom. My two paper trading accounts have equity curves that have been oscillating between two levels since October of 2008. However, something important happened on Friday: both equity curves broke through their resistance points on Friday. Is this the beginning stage of an uptrend in the market? I don’t know, however, I do know that the stock market will be up 20% to 30% before the CNBC pundits notice that the uptrend is in full force. The stock market will always move up or down before the rest of the world knows that a boom or bust is in the horizon. 2009 is looking good so far.

What could change my conclusion? Washington and the damned politicos playing games. This week we will see how the stimulus package… (Read the rest of this article at the following article source link for the full story)

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