John, the advance/decline worry sounds a lot like the bleating about small caps needing to catch up with large caps, or the whole thing will collapse. The latter worry has been emphasized by some for years now. The small caps never do catch up of late, evidenced by the Russell 2K lag. Buyers just flat out prefer the Nasdaq 100, or, to zero in all the closer, the generals or four horsemen kind of stocks: Intel, Microsoft, Cisco, Dell...If certain "analysts" want to continue to lead people down a path of little or no gains, worrying about A/Ds, or small caps, that's their problem. To me, a word which quite clearly could describe their problem is myopia.
Tony |
