Terry ; Yes it does, and while most of the gains have been in a
narrow band, at least they are in liquid type stocks.
While the narrowness of it don't speak real good , "IF" that
were to happen in the less liquid ones, I would be shaking
in my boots.
What I'm trying to say to market watchers is "IF" you see the
reverse happen, and a few of the under 50B cap stocks take the DOW
way up , THEN LOOK OUT FOR A HUGE DOWN WAVE WHEN IT COMES
as it is now I'm not bullish on her , but she is too liquid
for a real big melt down, as the smaller "less float" ones
are already dragging, if any thing they could get a pop which
could lift her fast before a big correction.
However the market looks too cautious at this time for me to
say that will happen.
So far I don't see a blow off top caused by "smaller float"
companies when they shoot the index up, GreenSpam is feeding
the market via
biz.yahoo.com
These things can do short term wonders, they don't want
a lot of TAX loss selling, They may get some but will try to
hold a lid on it.
Longer term I'm not near as bullish as the market seems to be,
like the retail Xmas shopping is up 0.1% for this time last
year, and so many people are taking that as good, my god if
we were growing anything like they have said we are growing
that should have been up 4% or more. All that growth is still
mostly priced into the market, or at it least hasn't adjusted
down to reasonable levels.
I'm also seeing with my own eyes price inflation on the store
shelves of many items that the CPI is not counting. Most of it
Junk..and fancy toys, inventories are much better controled
now days, and I bet you won't see half as many after Xmas
specials this year as last year..my guess is about from March
or maybe as late as June they will start talking about
inflation, only after it's already upon us.
Jim
Jim
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