G'day all - hi Bernard, while you are right about the general theory, A/D line has been sabotaged by the narrowness of the market in the past 2 years. Still, the broad base decline of yesterday should not be taken lightly. Today is a different picture [still too early to tell,] NYSE actually churns out decent [all things relative] indicators, except for the new lo vs hi.
My guess is people are doing the rotation thing, with an excuse to take profit from the hi flyers.
The two stock positions I added yesterday, ALN and SYMM, are hanging in there. Today, I ve continued to move cash into some of my MF positions [which I intend to hold *forever*!] But I see volatility, with a negative bias, maybe, continues until Feb 2. Since 25 basis points are expected, I think the only factor is the "neutral bias" vs "tightening bias." Some people have advanced the possibility of a 50 basis points. I think only outright bears can take that view, without the force of history to back them up [Mr Greenspan has never done such drastic things; besides, hard to see if the current [global] economic circumstance supports such a shock to the system
best, Bosco
[followed you here from Message 12464653] |
