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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: kendall harmon who wrote (72645)11/21/1999 10:21:00 PM
From: stan s.  Read Replies (1) of 120523
 
Stealth bear market. Thanks for posting that Kendall. Oddly enough I was looking at the advance decline line for the NYSE and the Nasdaq this morning.

He's right as far as he takes it, the NYSE advance decline line was on an upward tear from late '94 to April of '98...steep decline ever since with a few slight tries at recovery.

Hope he doesn't look as the Nasdaq. Been heading south since early '94 with steep acceleration downward starting in October of '97.

The interesting thing is that the Nasdaq has been able to buck the trend and go up while the A/D line declines...and on those relatively rare occasions when the A/D line has been healthy...the Nasdaq has absolutely soared higher...witness last year's incredible run from October to February....with a healthy A/D ratio...at least for a month or so before it tapered off.

Of course the Naz is a more volatile and has many more companies in more adventuresome enterprises, so it's not surprising that large numbers of them show decline.

As an addendum...don't know how long it will last but the Nasdaq A/D line is healthy at the moment and has been since the latter part of October.

By the way here are some comparisons I put on another thread last week comparing last years surge around this time to this years...on the Nasdaq. The numbers surprised me.

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