Until recently, I was conviced that the DOW has seen better days and that the bull has finally rolled over. Nowadays, there is much talk among pundits about how the Asian and other world problems will bring down the U.S. equities markets. Well, to date, my indicators are still pointing higher and the market is now approaching its old highs. That the DOW has not collapsed in the face of all the negative news is a mystery to me. I will continue to hold long positions until my indicators turn negative. I believe that the market is smarter than we are and that, perhaps, it knows something we don't.
I invite discussion on both sides of the fence. Can anyone offer a good explanation as to why the U.S. markets are still continuing higher?
GZ |
