el paradisio, my tea leaves aren't, that good -g-
a big volume expansion and close on the low today would have made the F more likely.
I've heard a lot of comparisons to 1994, there are many, however there are many differences also, which include market leaders with triple digit p/e ratios and big divergences between markets, big volitility, we are at the top of Dent's bull market channel to 40,000 (is it suppose to go straight up to there? -g-)
in 1994 the pessimism was very thick, put/call ratios were very high, and somebody should revisit that chart that shahar posted yesterday of the 3 decade savings rate plummeting like a rock, extreme complacency. Today finally this year the bullish advisors went below 50% (47%).
i think we need to get more pessimism and more cash build-up before we can mount any kind of meaningful rally, till then it will be all over the map, just try to be on the right side and don't be a pig.
oh ya, it was just brought to my attention that the big april slide was an anniversary of the titanic sinking, i guess that means that was a bottom and we are on are merry way to nasdaq 10,000 -gg- |
