Hi Jeff, briefing.com has been keeping track of all
of the groups of bubble stocks over the past number of
weeks ( as has Cramer)
Here is Briefing.com's snippet from today, and it's
interesting that they even used the expression "Last"
my thought is start to pay close attention to what the
Fed Officials say at their luncheon's and other appearances.
The Theory is that the Fed would have gone to a neutral
bias or to an easing bias In Nov, but could not due to
the election being up in the air.
It could look partisan, to do something to help the
stockmarket, and as history would view things, Greenspan
would be seen to be promoting the Presidential Indecision,
because the Pain and losses in the stockmarket will
help to shorten the process of Getting President number
43 ( or is it 44?) in office.
Greenspan is also proving that there was irrational
exuburance, and he's making sure that nonsense stops....
It's back to Graham and Dodd value investing -g-
12:46 ET Last of the Bubble : If today's Nasdaq trading feels more painful than the current 42 pt decline suggests, that's because the tech darlings -- the last of the exorbitantly valued stocks -- are getting killed. There are no specific stories here, the only common thread is high valuations: EXTR -11 5/16, BRCD -11, AETH -7 9/16, IWOV -8 1/16, EMLX -18 1/2, SONS -2 5/8.
EDIT:
here is the 10 Year M2 rate of change chart,
geocities.com
as you can see the deceleration in the rate of growth
in Money creation has been trying to make a double bottom,
and if it can start to head back up a bit It will
cause a couple of month zig-zag rally ....the reason
being their will be more liquidity, or so goes the
theory. -g- |
