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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.63+0.4%Nov 19 4:00 PM EST

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To: Les H who wrote (11599)4/20/1999 8:55:00 PM
From: Casaubon  Read Replies (1) of 99985
 
YES!!! That is exactly what is happening. I couldn't put into into such succint words, thank you. I've been watching it happen with the stocks I track. Unfortunatley, I am largely ignorant of index funds so I couldn't see it happening on that scale. But, the recirculation you described is right on the money! Each time it happens, the chest of this great beast gets puffed up a little further (DJIA) and everybody (J6P) can say all is well. Each time I mention something that was unhealthy for the market, to a friend at work, he retorts, "the DJIA is in record territory", and I respond, "all of our 401K funds are losing money!
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