Where were you this weekend?<<<
jt, i have to take a lot more time away from the market these days, it's too depressing -g-
it's quite discouraging that the rydex ratios got within a wisker of the sept lows in late feb, and now we are making new lows.
all the t/a people are bearish,
but in the final capukelation in the bull there were only a few people left bearish, and it may take that before we hit bottom.
what is incredible here is they are playing back the 10 yr anniversary of the LA Riots, which had a lot to do about the rodney king beating and much more to do about the crappy recession, at that time many house prices had lost half their value, the aerospace industry had been decimated by the falling berlin wall, people were leaving LA en masse,
that was after a decade top, in 1989,
now after this decade top, things are infintely better, but the stock market has become, maybe diverged from the real economy as it became greatly diverged on the upside in the late 90's, and is due for more correction, a valuation correction, even while main st. goes on.
we have broken below the previous lows in all the indexes except the dow, during the bear market this has usually been a bad sign. |
