Bounce Coming?

[tsptalk]

Dow Transports are up 4.4% right now. So tempting to use an IFT to buy this morning, but with only one buy per month, it's a very tough call.

[XL-entLady]

Originally Posted by tsptalk

Dow Transports are up 4.4% right now. So tempting to use an IFT to buy this morning, but with only one buy per month, it's a very tough call.

I just saw this news story:


"Warren Buffett's Berkshire Hathaway said Tuesday it will buy railroad operator Burlington Northern Santa Fe for $44 billion. Berkshire, which already has major stake in Burlington Northern, said it would acquire the remaining 77.4% of the company in a cash-and-stock offer worth $100 per share.

Widely regarded as both one of the world's richest men and the investment community's more brilliant minds, Buffett called his firm's investment an "all-in wager on the economic future of the United States."

"Our country's future prosperity depends on its having an efficient and well-maintained rail system," Buffett said in a statement."

http://money.cnn.com/2009/11/03/news...ion=2009110308

Buffett invests for the long-term, but the news also gave me a bigger comfort level in the intermediate term picture. I would probably dive back in to the markets this week but I'm about to embark on another 2-week business trip so I may stay in the Garage while I'm on the road.

Lady

[tsptalk]

Thanks Lady. Buffett is on TV right now, but I hadn't heard that when I made the post.

Uh, oh. I took the plunge but I think I'd rather be a seller of an emotional spike like that. Still, several indicators are giving a short-term buy signal (oversold, ARMS, sentiment survey, some of trader fred's ETF's, etc.) Looks like I'm gambling for a few days (not much longer).

[JTH]

Thanks Tom, that is one rocket-ship-crazy-upside move

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[Birchtree]

Only about 60 points away from the 50-day. Perhaps we'll capture that back sometime this week.