Adam, Strut horse, strut it up! I agree about the SOX double bottom, the only thing that could cause a triple test of the bottom would be if the NASDAQ decides to correct heavily, but I am quite surprised by its recent strength, which makes me think that my only slightly leveraged portfolio is too conservative. And yes, for those that wonder, I have seen big bear markets in my time. Since the BTB is a 3 month rolling average, a 0.90 for Feb. down only slightly from 0.92 in Jan. means that the reading for Feb., the new month just being included to the 3 month average, was only slightly below Nov., the month being dropped from the average. In November, the BTB was a strong 1.13! So to me, there is no wonder that the SOX was up like gangbusters today. We're all going to make out well.....
I think the BTB is very misunderstood. |
