Confessions Of A Down-in-the-Dumps Football Fanatic

The Hurricanes lost because of a bunch of slimeball, scuzzy, zipperhead refs who
don’t know how to call a game. You can’t call interference on that play. Calling
interference on fourth down…against my team…does this ref know who I am?
First off, Ohio State’s receiver wasn’t even touched. Secondly, you just don’t
make a call like that unless it is totally blatant…a call  that potentially
changes the outcome of the whole season. The ref’s answer to the late call…”I
waited to throw the flag because I wanted to make sure what I saw was what I
saw.” Are you kidding me? No holiday cards from me next year.

Then we get to the Giants game. I must admit, the 49ers put on a great show. Of
course, the last play had an interference call against the 49ers only to be
negated by a “man downfield” call. By the way, THAT interference call was
blatant. Soooo, another ref takes a game away from a beloved team of mine. It’s
a plot. This couldn’t happen twice in one week. Two bone-jarring games that rock
every fan’s emotions. Of course it can. It’s football. I can’t talk about the 
Giants’ inept snapper and the kicker who could not hit the side of a mountain
with a bazooka. They are just out of jobs. They both can come to my house and
sweep the floors while I bark in their ears how they cost my beloved Giants the
game. They can then walk my dog and clean the toilets as I yell at them for
breaking my heart….but I won’t talk about them. Nevertheless, I still want to
take Terrell Owens and have him dipped in a vat of honey and unleash several
thousand African death bees put into a dark room with no lights. Hey, I told you
I was a fanatic.

Anyway, I will not be able to eat all week as I am sick about my teams’
horrifying turn of events. This was even worse than the Democrats’ economic
proposals that will come out in a day or so. OK…no politics. I told you I was
upset.

All right, I feel guilty. Let’s talk stock market.

As I said last week, the markets put up a goal-line stand on the one yard line.
It’s as simple as that. I urge you to keep those support levels I outlined for
you watched carefully. If at any point those levels are breached, then the
intermediate-term will turn decidedly negative and could take the major averages
to the July and October lows.

On the positive side, I would watch for one thing…a follow-through day. This
would occur starting Tuesday, the fourth day of this attempted rally. If one
occurs, then you can expect an assault on the top end of what is now becoming a
decisive trading range. But that does not mean you can buy with abandon. There
have been too many false moves over the past three years. I am just happy the
market has a chance to finally make a higher low. Time will tell. It is also a
positive that New Highs are expanding a bit while on the drop, New Lows did not.

BUT…I would continue to go slow. If the markets do stay rangebound, you can
expect a lot of whipsawing back and forth. Do not treat the market as a whole,
but continue to search out those stocks and sectors that are outperforming,
setting up in bases and breaking out.

On the negative side, sentiment is still too complacent and too bullish, and I
am still finding a long list of stocks and sectors that are still in poor shape.
I just don’t believe you need to be in a big rush.

I am now done with this report. I am going to put my head under a pillow and
drown my sorrows in a can of A&W Root Beer.