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Market Timing Alert: BULLISH This is it. This is the moment I've been waiting for. We have an early indication that the market has turned. I strongly suspect now that we have just crossed over to the other side. That a major bottom is behind us. That the bear market is over. I have a bullish signal from my NASDAQ Timing Model as of the close today, and also my market internals indicator turned bullish late today. That's two out of three of my indicators which are now bullish. I haven't seen that in months. The near-collapse of Bear Stearns, which we just learned about over the weekend, is a huge negative, but the Fed's historic and very aggressive recent stimulative actions, including a rescue of the Wall Street firm and a 3/4-point rate cut today, are a huge positive. Also, and this is probably even more important, two other Wall Street firms, Lehman Brothers and Goldman Sachs, came out with earnings this morning that were well above estimates, suggesting that the issues which brought down Bear Stearns may not be as widespread as feared. In any case, the market's response to news is even more important than the news itself, and today's good news sparked one whale of a rally, accompanied by expanding volume. (The last big rally, exactly one week ago today, was accompanied by receding volume. This is a key difference in my book.) It's time to put our cash to work. -KD, March 18, 2008
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* Net buy prices include commissions. Welcome to The Deen's ListTM, an e-mail stock newsletter from Deen Capital Management, Inc. My intention is to inform you as quickly as is practical regarding my stock market moves. When I buy or sell a stock, first I take care of client accounts, then I buy/sell for my personal account(s), and then, third, I send out this newsletter. Your feedback is welcome. Send e-mail to deenslist@deencapital.com. To subscribe or unsubscribe, include the word "subscribe" or "unsubscribe" in the Subject line. This newsletter is free to managed account clients. For a limited time, it is also free to all interested parties. Your personal information, including your e-mail address, will be held in strict confidence by Deen Capital Management, Inc. We will not share it with or sell it to others. All stocks discussed in The Deen's ListTM involve a high degree of risk. It should not be assumed that any stock discussed in The Deen's ListTM or purchased by Deen Capital Management, Inc. will be profitable. Past performance is not necessarily indicative of future results. The information contained herein has been compiled from sources deemed to be reliable; however, we are not responsible for its accuracy or completeness.
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