FROM S&P MARKETSCOPE some Technical Analysis: For the week, the DJIA gained 3.43%. The S&P 500 gained 3.21% while the NASDAQ rose 2.06%. Stocks finished the week with bullish momentum. Todayâs new buying showed improved investor confidence in the equity market. There are a few technical conditions favoring more short term gains in stocks. On the momentum front, momentum is bullish while none of the major indexes is overbought. There is some room above before all three major indexes run into their resistance at their respective February highs. On the sentiment front, sentiment remains extremely negative which is bullish for stocks. The Investors Intelligence bullish advisor reading dropped to 30.9%, the lowest level since late 2002. With short interest ratios high on the exchanges and plenty of cash on the sidelines, we could see money get put to work in stocks as we head into the spring
What about the IMAGINARY RECESSION? A dark plague from Biblical Times..? LOL! BTW DJIA has crossed its 50 day moving average 3 times this last week..a solid bullish omen..
why are you busy pumping the markets, I see little logic in any of your postings, markets went up and down on all 4 trading days last week, what makes you think they are not going to 11500 soon...
The fixated behaviour, which you note, comes from those who do not have open minds and who get comfort from their fixations. You will notice the coating of emotional irrationaility that some at ET put on much which has to do with the markets and the economy. They project on to everything around them the defects and deficiencies in their lives.
on the earlier topic of BSC, I read somewhere that if he did not sell; pause because this next part is genius he is yet to realize the loss. some of you live in that state (Kentucky) And no I do not need a lecture about realized and unrealized loss.
this board is really great though. Fantastic information in the archive 2006 on back and currently a great sentiment indicator of what the fools are doing and what to fade.
I don't think were even close to a bottom. You don't find the low of a market with people standing on the sidelines just waiting to pounce. Look at home builders. They've been calling a bottom in HB's for at least 6 months. Look at the auction they had in Fla this past week where 700 people showed up to bid on foreclosures. Does that look like capitualtion? Now, if no one had showed up, I'd say you were real close to a bottom. The bottom is when everyone throws in the towel in disgust. PS. Regarding the other "shoe", watch commercial RE.
Bottoms are defined by TECHNICAL ANAYSIS on stock charts, and not by how you feel and the part of your world that you see.