I'm going to go out on a limb here...and just for the record, I'm going to through in a "seat of the pants" traders viewpoint as it applies to this January 2004 (only). Many traders have been taking advantage of the Dec/Jan effect, and found that they simply haven't had a big enough sell off (if any) in most stocks to fully fund themselves, share wise. This triggers a little "uh-oh" in my mind...and that uh-oh is saying that we just may not have the upside that we have come to expect in many of these downtrodden stocks. If you think about it, don't we need a downward move to have a "reversal" to the upside? If not, we just have a blazing runaway bull market...which doesn't seem to make a whole lot of sense at this point. Anyway, the market does what it does, no matter what our charts say, our "tapes" say, or our "gut feelings" say....let's just hope we have a lot of activity in January to compensate for any directional missteps. Merry Christmas, Happy Holidays, to everyone... Don
Bump .... Hope everyone was positioned for a Santa Claus rally and got something nice under the tree.