3 out of the last 5 UP days on Dow found up volume BELOW 50%, suggesting very weak demand. Todays advance saw a mere 31% UP volume....very selective purchasing of stocks.....now all this happening folks when Dow Theory 50% principal was in play...and bettered (passed 50% of losses from high to lows) and NEW HIGHS for move appeared.
If long, well you could say who cares, IMHO NONE of this smells like bull market action....but what do you call a 1 yr plus advance? A primary advance....inside of a SECULAR BEAR
SECULAR BEAR to me means over an extended period of time the stock market is poised to dissapoint, and buying at current levels may be even more so dissapointing....
FRI is OPTIONS EXP DAY....so it may be setting up to hold most of the gains into this period...a 31% up volume day and Dow gains 40 points.....how do you think that is accomplished?
NO WONDER people have left the party and dont give a hoot anymore...
D
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1 comment:
Did you read this?
http://www.businessinsider.com/now-bernanke-wants-to-eliminate-reserve-requirements-completely-2010-3
Amazing!
SSK
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