Over the weekend, we finished our report with these words: “Simply put, if the large cap areas start breaking the 50 day average, that would be the next shot across the bow as it would tell us the big boys are following suit. We started to get some of that last week but Friday’s action…
DOW only down 28 but the RUSSELL down the equivalent of 250 DOW points. The MIDCAPS down the equivalent of 150 DOW points. Advance/declines were gross. More and more names broke the 10 week/50 day average. THE POPULAR INDICES WILL NOT BE ABLE TO TAKE TOO MUCH MORE OF THESE KINDS OF DAYS! Pixie dust…
SOURCE:http://www.golfchannel.com/news/golf-central-blog/video-junior-makes-albatross-win-pebble-beach/?cid=twitter-gc-v-junior-albatross-pebble-beach-open-092914
We are seeing more and more signs of trouble as we move forward. As you know, we continue to be worried about the many characteristics of market tops that have been showing up for months. Just to refresh: A massive amount of leverage and margin are now in the system. When have we seen this…
We will have the long version over the weekend…but let’s just say Thursday was a yonking…simple as that. You already know what we have been saying for months…the divergences, the lack of new highs and all that crap. Things just worsened. But before everyone gets all out of sorts, not much has changed. Just that…
It is early in the day but ugly does not describe today’s action. Screens are beet red…and one thing really starting to stand out. It is the mauling of the high-yield, junk bond arena. We have yapped forever here at this area as the most mis-priced and distorted market brought to you by Mr. Bubble…
Yesterday, we told you that the non-existent, end-of-quarter, illegal window dressing period would start. Dang…that was a good start. But not much has changed. The worst areas remain worst…the best areas remain best with one little change. It seems the BIOTECHS are ready for another leg up as many ramped and romped on Wednesday. The…
Regardless of everything said and written here, don’t forget it is end of quarter. At the end of a quarter, market players are not supposed to window dress…meaning they are not supposed to pump things up by buying a crapload of stocks they already own in order to have end of quarter statements look better….
The internals continue to deteriorate…but you already knew that’s what was going on. Everything we told you that was going on…is now worsening as the small caps lead down and the large caps start to come in. Amazingly, the Russell 2000 is now below the 200 day moving average with the Dow and S&P just…
