ild,
I read that post several times trying to understand it. I am not an expert by any means. The paragraphs of interest to me are these..
Early on, Bob divined that March 2000 represented a watershed, a fracture into two distinct and opposite markets: a bear market in Nasdaq and a bull market in the broad sweep of stocks, paced by the value contingent. That schizo character, as anyone with a share of stock knows, has endured ever since and, Bob says, is still very much in effect.
The drop to this spring's lows, he feels, was for Nasdaq an extension of its bear trend, but for the broad market just a normal correction. By the same token, he views the subsequent recovery as a bear-market rally for Nasdaq and a resumption of the bull move for value, etc.
Now, looking at these index's, all I see is the DOW components being propped up, the Nas and everything else going down in a sustained DOWN trend since Sept 00.
stockcharts.com
So what should I conclude from reading that article (if anything)?
If I read it correctly I conclude the smart money wishes to cram more clowns into the elevator before closing the doors and applying some bolt cutters to the cables and brakes. Maybe we will get a bounce next week.-g-
pearly. |
