BB; Now if we can just go on down and hit that 200 DMA I'll be
glad to go long with you..
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BTW here are some random notes I made to Monty.
AS for the NYA.X , for all the hype of how good this market is
and such, if we look at Highs to highs over time..the NYA.X
has not done s*it since last JULY, ( it did gain from it's old
high 50pts ( for a day ) )) right now it's only
sitting 33pts above where it was 11 months ago, 5.5% in 11 months
and it could well give every bit of that back.
So much for CreemSpans fabulas market..if we look at the total
A/D lines we find most indexes are "not" painting a
real picture, they show things being more rosy than they
are. The majors are enhanced in a way to get people in the
Market.
However the NYA.X is about as poor as they get, a broader index
is the Wilshire 5000 and it's showing a 10.3% gain since
July 20 98..
I don't belive it's fair to measure from LOW to High, and it's
hard to measure from low to low if we have just past a high,
unless you want to go way back and measure from the 97 low
to the 98 low.
At any rate the exchanges, brokers and even the news media all
want to "push" stocks and they use a lot of tricks to make
people think stocks are doing better than they really do.
They can always find a fair number of stocks & or funds to hold
up to the light and yada yada..but ignore the stuff that has gotten
kicked out of an index or delisted or went compleatly belly up.
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Btw
This blew my mind, I took the COMP data all the way back
to 1995 and just happened to average the daily open price
and close price.
Guess what on an average she closed .905 pts Lower than she
opened she goes up like that too !
They gap her up then close the GAP
during the day on a fairly regular basis and over time it shows
up as an average of her closing below her open..
I'll have to try it on some other indexes.
Break,
Back
Just did the NYA same time frame Dec18 95 till now and she
don't do taht..she closes a big .3632 pts above her open on
an average. But tahts a lot better than the Nazdaq crooks.
Well I'm
Hoping we fall like a rock in the morning, but so far I don't
see it, maybe some , but we will likely put in a higher
bottom than the last one and go on to rally into some sort
of blow off top before we get the bigger correction I keep
looking for..I still see the Dow going to test 9999 before this
year is out, but there is a chance now that she will make a new
high first ( not a good one ) but enough that I don't want to
just sit on a short position.
Jim
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