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Tag Archives: News Corp. Class A

July 29, 2005

What took you so long? We’ve been waiting a week or two for stock prices to enter their “summer siesta” – and with today’s sharp pullback, siesta season may almost be here. Several of our intermediate-term indicators, which typically look at the market through a three-month window, are now threatening to turn down from severely overbought levels. It may take another day or two for the final top to be put in place, but we definitely expect lower prices by mid-August.