HI GZ; I look at the Dow, and even slice it into two parts,
( cap weighted ) to see if the tail is wagging the dog, but as
using it as it is for a market indicator, I don't..it's not
weighted. You can get some idea from it, but not as good as the
S&P, or the OEX. We could retract a 200 pts easy enough and
still the low would be higher than the last one. S&P broke
out, so that's enough for me. I'm fixing to go back offshore
and I feel the market is now trending up..it's had a 12
week sidewise go at it, and has held, in fact S&P is new high.
With my going out not much for me to do but get in a couple of
funds, picked CHEYX and ( SPEQX..may switch it to kaufx or hrsmx) before I go. ( Still holding 1 share of OAKSX , as she is closed
to new accounts, but I think she is holding some pricy stocks
and will wait before going back in..she did real good last year.
But last year is gone, the first two I like as they paid good cap
gains ( it's not the capgains I like so much as the fact it says
they manage the fund better )..OAKSX did as good but could not
sell off it's stuff to do a cap gains without hurting itself.
Thats why I came out of it DEC5th, except for 1 share.
I don't know were the DOW may retract to..but I think she has
said good by to 7700..7600 for sure..and could easyly take out
8400 in another week or so, if she holds 8000 this week, next
week will be an even bigger push up.
Bear run really eased in on us tail of July..and officially ended
JAN12th..
Message 3321972
Jim |
