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March 19, 2009

Unfulfilled Gaps

The clues continue to mount that we have commenced the major counter-trend rally of this bear market. I noted earlier that the 10DMA of the McClellan Oscillator reached a record oversold extreme in conjunction with the S&P 500 low. We also have commodities rallying strongly, which is behavior a certain blog writer expected in conjunction with the counter-trend wave (my Canroys are performing fabulously, thank you very much). In fact, while the general market was churning slowly lower, have a look at what a few of my materials shares did today:

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