TOKYO, April 18 (Reuters) - Tokyo's Nikkei average fell over 2.5 percent by mid-morning on Monday as fast spreading concerns about the strength of the U.S. economy triggered a broad-based sell-off. Hope this is the start!! I love the short side!
got this from sentimentrader....take a look at the chart "The scale on the Stock/Bond Ratio is the number of standard deviations the ratio is from its mean value. The lower the ratio, the more stocks are undervalued against bonds. As of Friday, stocks hit a level that hadnât been seen since 9/11, exceeding -3 standard deviations. Since 1962, anytime this ratio had gone beyond -3, the S&P was higher one month later more than 75% of the time, with an average return of over +3%. It has been perfect since 1998, going 20 for 20, with an average return of +6.3%."
yes its weak and the volume is huge there is no doubt this market has some serious downside potential but to hear marketspammer/hankrollins/ and dozens of other aliases pumping his own calls but in reality----- (the ashlee simpson) of elitetrader call another black monday (after getting smoked last time) seriously makes me consider the timing of future downside seriously Baron, why do you allow this slug back here after he started the other website directly competing against yours?
For what is worth, this looks identical like last April. Just like this week it was dropping with daily rate of 1.5-2% . On Monday (3 May) there was a bounce. Date Open High Low Close Volume Adj Close* 3-May-04 1,409.06 1,428.49 1,404.06 1,415.29 19,324,900 1,415.29 30-Apr-04 1,435.16 1,439.69 1,401.36 1,401.36 21,747,300 1,401.36 29-Apr-04 1,451.40 1,461.13 1,420.66 1,431.36 23,710,700 1,431.36 28-Apr-04 1,475.88 1,476.03 1,449.23 1,453.03 20,374,200 1,453.03 27-Apr-04 1,485.67 1,495.62 1,476.42 1,479.47 19,716,100 1,479.47
Just looking back over the past few years, it looks like we got some decent sized selloffs almost every year during tax week. The following week after these tax week selloffs were positive. I haven't done a serious analysis of this yet, just took a quick glance.
was watching market plumment streamside on the quotron---did't get much fishing in--- no, i still fully short. best wishes.