Where are We Going?
Research for Online Investors

by John Dalt

8/13/09

We are having problems with our mail server company.  I hope that this gets through to you.  I am sending shortly after market open in hopes that you receive later today.

The market had a great day yesterday and has confirmed the rally.  I feel we are headed higher over the next couple of weeks with limited downside.  Another humorous side note, statistics show the market is likely to advance when congress is out of session.  I suppose it takes away the uncertainty of divining how much damage the latest proposed spending or regulation will cause.

There will be no letter tomorrow as I am leaving tonight to deliver our third daughter to college.  Her mother and I hate to see the nest emptying as our little birds try their wings, but this day comes and we are proud of her.  We only have one high school student left at home!  I am sorry for this distraction, but am sure you will survive without my observations for one day.

Any pullback that does occur should be very mild, support is: 989—50% Fibonacci
970---10 day moving average
943---50 day moving average

Then we jump down to:
874---200 day moving average

Any lower than that and hold on.

I will be back Monday morning.

“Always be nice to your children because they are the ones who will choose your rest home.”
---- Phyllis Diller

The information presented in this newsletter is based on generally available news releases, corporate filings, current events, interviews and the editor’s opinions.  It may contain errors and you should not make investment decisions based solely on what you believe you have read here.  Do your own research, it is your money.  If you lose it, it is your responsibility, not ours or your grandmothers!  The editor may or may not have a position in any securities discussed.  The editor may have held a position in a security earlier, or in the future.

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