http://tinyurl.com/6q256
Sure is hugging that 20 EMA, I am looking for a break, and I think it will follow the declining avg.
The FED will continue to raise short term rates, not to do so might actually unravel markets and dismiss the appearence of health of economy.
SOme snippets from here and there:
2004 saw Insiders sell $41 B of stock to $1.24 B bought. this was 40% above previous year! and purchases 2nd lowest sicne 1996 (Crosscurrents)
In their Dec issue same showed RYDEX flow of funds RATIO was 4.1 bulls to bears! and termed it "euphoric".
100 WK moving avg of II poll now shows 2.5 bulls to bears! NOT once in 2 years has there been more bears than bulls.
Also from Alan's great column...."we offered some info on the expectation for a 15% correction. A 10% correction can be expected every 1.44 years. It's about time."
STocks LESS attractive when FED raises rates. BAnks can OFFER more in yield competing with market.
**I have argued that if the saying..."you should be buying what nobody else wants" then to me CASH is that item.
EVEN Gates has jumped on the I HATE $$$ bandwagon. IMHO it is far from time to RAISE cash and let the wind blow.
Duratek
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