20091201 Timer Commentary

Reading or listening to financial news and then looking at the charts is often entertaining. On Black Friday, the market was supposedly up because there were millions more people shopping compared to last year (but they spent about 10% less). Today, the market “set the Dubai problem aside” and gave investors a “great start to December.”

The market has really been moving sideways for several weeks. Volume is still light, Financials aren’t looking so good from our perspective.

Watching to see which way this breaks out of the channel.

Keep an eye on AIG – the US government-backed, insurer-to-European-banks-that-insure-Dubai bonds.