Hi GZ, about the sentiment, in a bull market, bearish sentiment is a bottoming indicator, but IMHO we have been in a stealth bear market since October 27th.
The Daq is definately in a bear and the NYSE summation index is down from 4000 at the Aug peak to around 1500.
This is how everone gets fooled at the peak. The averages look great, but the money has narrowed into the nifty fifty and now the nifty five. This is an illusion of a healthy market. God is in the details and if you look at the details of this market the aroma is fowl - no offense to rarebird or chicken wings -ggg-
Most people's portfolios are in trouble, unless they happen to be only in index or the nifty fifty stocks. If they are diversified like the street says, small cap, tech, foreign stuff . . . all taking a big hit.
Microsoft news looking particularly interesting, wouldn't want to be sitting on that cliff.
Talk about trading places check out the Dragon, looks like it is making a triple bottom inverse H&S quote.yahoo.com
Oooops looks like we are failing 8000 again! IMHO Tomorrow and Friday, will be pretty ugly, the nifty five are sucking up liquidity out of the markets, besides the big sucking sound coming out of the east as we bail out Asia, with money we don't have - no G -
If you are long anything, would be prudent to put stops in.
bobby beara says deju vu all over again, raccoon coats and cigar bars -g- |
