Bobby, what do you make of the following divergence, on December 21st, when we hit the 2288 on the Naz we had 950 new lows or so, on January 3rd, hitting a new low of 2250 resulted only in 450, and here on March 9th, hitting another new low of 2042, we have only 200 new lows? That kind of divergence might indicate that future declines in the next few months will not go much lower. I say "might" because there are many other indicators that still require more pessimism. By the way, if you want to play the long side, with expected increased bankruptcies, you may want to consider EPIQ, the more bankruptcies out there, the better they do (g).
Zeev |
