○ I hope there is a Xmas Rally tomorrow. But It is hard to predict. RIMM earning is good, but POT lowers 2008 earnings outlook. So RALLY depends on rebounce of OIL and ERNERGY.
● Today, will be an interesting day. Some pre-market News.
○ 1. S&P Downgrades Goldman, 11 More Banks
● GM, Chrysler Close to Loan Deal, Toyota Loss Looms ( interesting right? GM/Chrysler will get a life-support loan but Toyota lost ground)
● 3. As US Auto Bailout Nears, So Does Bankruptcy Option -- Why Whitehouse is so slow? What is orderly bankruptcy? Are they 2-big-2-fail or the problem is 2-big-2-fix?
● Let us look at the market without bias. The most important thing for today is the price action around 870/920 Support/Resistance Line. You may want to slow down and sense the market direction at 870/920 then take the right reaction.
○ Xmas Rally will start today, guys.
○ I do not know. It all depends on how today starts and how today ends. Let us read the price action.
● So far, I did not sense any energy from the buyers. Let us wait for another 30 minutes.
○ I will be happy to buy long if it started low and tested the support and show the strength of the big share holders. But right now, I am not sure any more. So, I will continute defense at the resistance line.
○ what's the resistance line today?