Looks good to me, Monty, as long as it holds above 30.75. It would be nicer if it had held above yesterday's lower shadow, of course. Several indicators are giving buy signals. Also, there's a reversal back up today in the direction of my S&P sentiment indicator, so maybe that'll help carry SBC up. Maybe. The Naz ST CI is moving up slightly, too (showing divergence with the COMPX, as it was yesterday).
Still, you should be thrown off the thread for getting off-topic by raising the subject of TA. The toddlers and kindergartners must be napping, while their beloved slobbered-over buy-and-hold techs continue to teeter-totter near support.
Why should anyone be at all wary of the market when the S&P's GAAP P/E has been calculated to be about 44, and the normal range for it is "between 10 (undervalued) to 20 (overvalued)," according to Decision Point?
What should we buy and hold, Monty? What paralogisms, what magical reasoning, can persuade us that all is well? I don't want to trade these things up and down. I'm a credulous investor. I'm in for the long term. The analysts on CNBC say now is the time! I'm ready! Praise AG! I accept him as the market's savior! |
