<< dippiitidy no, you don't get it, I was bullish from the the late jan low until early last week, during the trading range, which is an indecision pattern of course i flipped, as did the investing public >>
Not taking sides here either way, but I do think the "investing public" you refer to is more like the big institutions flipping the market around at will. Major moves on bonds, selling dow stocks to buy NAZ etc. etc. I don't think that's John Q. Public at work.
The market feels like one big computer program trade now, outside the little fish the day traders are biting on. Totally mindless action, the computer age has led us to a point where we don't even have to think. In the current cycle of buy the dip, buy the break technical analysis guided trading, we should soon hit NAZ 10,000 as long as the question of valuation can be shelved. I bet there aren't many of those computers that even remotely connect to price/sales, price/earnings, etc etc. none of that matters any more......
M. |
