heinz: Every thing I watch is screaming sell, except one....the leadership stocks are just not faltering.
I don't see much distribution in some big names with bullish charts like: GE, MSFT, AOL, YHOO, EMC, T, CSCO, ORCL, SUNW or even the more ridiculous growth stuff like ERTS, CMRC, DISH, etc. Prices pulling back, but the volume is just not indicative of major distribution.
I see major distribution in the indices, sentiment is out of hand (except the VIX), the a/d and nh/nl is horrid....but, until the leaders come unglued, I just don't think this thing is going to change much. Of course, I reserve the right to be wrong and to change my tune at the drop of a hat. <gggg>
VIX has me a bit puzzled, and the bonds could panic a few folks, and expiration will add to the show, but I just don't see the leadership faltering yet.
Tulips anyone? |
