StockOperator,
>>>> Tomorrow we will see another report released by the government. I have to believe that that report will be favorable to the markets simply because the DOW the last two days has set itself up for a breakout, possibly into the 11,000 range. <<<<<
Whether the report is good or not, it is getting obvious that it is likely for the DOW to get to 11,000 or even higher, but at the expense of other sectors. Now if all the indexes were to move up at the same time and set new highs, I may have to concede my short-term
bearishness, but that hasnt happened yet.
We all know the old saying that the market can make moves which will benefit the least, and I think from about APRIL 13 that has been the case. How many of the average investor made money since mid-APRIL.
Prior to mid APRIL, when the DOW was around 10,500 the money was being made in the HiTECHs/DOT/DRG/some DOW stocks like GE,WMT,MCD and most of those stocks are down and some have actually lost money if they got in at the highs. Now how many bought the cyclicals/basic materials/Transports excluding the airlines(since airlines are basicly
flat for that period). And many of those stocks which pushed the DOW up above 10,500 spiked up so few were able to benefit.
I am specificly talking about the period from about Mid-April.
seeya |
