Discussion in 'Stocks' started by blackjack007, Feb 1, 2008.
even with yesterday's strong rally, many stocks are making new lows. that's usually an ominous sign.
I do not expect many stocks to trade near their respective 52 week high price values following a few weeks of decreasing general market index values. Not right away. It takes time for prices to rally near their respective 52 week high values.
I keep wondering what selling and buying really mean since at all times stock is owned by someone and for every seller there is also a buyer.
you are arguing a different point. this is not about how many stocks are making new highs. this is about why there are so many lows when the market is rallying.
i remember the same thing happening during the nasdaq implosion of 2000. throughout the mini rallies, you would continue to see more and more stocks reach lows. not that i'm predicting a repeat of 2000.
besides, the broader market is only down 10% from the oct high... A modest decline like that shouldn't be enough to cause so many new lows, especially after spx has rallied 100 pts in a week.
very good point. I noticed the same. Seen the Russell2000 lately? I follow mostly tsx stocks and even though it rallied 200+ yesterday most stocks i was looking at were flat or down. Seems the institutions were out there buying the stuff weighted in the index.
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