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Dave’s Daily

Dave’s Daily MARKET COMMENT 

September 21, 2009

harpoatbar

WAITING FOR THE BEARD

An overbought market featured some selling today without much conviction in either direction. This may be the way of things until the Fed meeting announcement on Wednesday. Then we’ll see what kind of exit strategy may be gleaned from the droppings left by whatever is within their statement.

Light volume makes sense then since this remains a market of professionals only with most individual investors sitting this one out still bewildered by past events. Breadth was negative overall although volume on the NASDAQ was positive indicating bullish momentum remains with the big boys. 

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