Market commentary by JB90

Our down targets for Nasdaq were hit and we turned bullish with the amount of money which Alan Greenspan poured shortly after tragic day of terrorist attacks. Over 300B dollars were printed while the markets were closed, so the only way stocks could go on that fuel is up. SEC is easing the rules for the companies buying their shares back, everybody speaks about rescue packages, tax relieves, patriotic buying, economy rebound in 2002, end-of-year rally ...

Well, looking at Nasdaq chart technically and without emotions, I see that previous support at 1900 may serve as a strong resistance now. We expect a short lived rally continuation to 1900, then retreat to 1600 and a month or two of side ways action between 1600 and 1900.

Of course, the uncertainty about the war and its consequences which hangs over all of us is the most influential factor today. Let's hope and pray that the better things are ahead of us.

Good luck,
JB90

Suggested reading :

• The winners and losers of zero-sum game by Lawrence Harris
• Kelly value and optimal betting
• Random Equity Curve Simulator and Kelly value calculator
• More books...

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