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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Shack who wrote (61870)1/25/2001 7:24:35 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
for several reasons. one , pointed out by Luc, is that obviously big caps have to be sold to buy the smaller cap stocks, the other is simply the fact that breadth and price should confirm each other to denote a trend is for real.

i agree with you breadth is an irrelevant measure DURING strong established trends, but not near supposed trend CHANGES. how one looks at breadth also depends on the point of the cycle one inhabits. it is for instance old hat that the final (and often most profitable) leg of bull markets is accompanied by a deterioration in breadth.

i wouldn't even have mentioned it were it not for the fact that there seems to be a ceaseless stream of 'analysts' publicly declaring the breadth improvement a bullish event. it isn't. unless it's confirmed.
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