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Hi DIMITRIS,
Tuesday, November 16, 2004, 4:56:52 AM, you wrote:
DT> Two positive bars are already gone... I do not see any reason for
DT> a third one. Anything else will prove I am wrong.
Well, on a A/D basis very short term, I would expect a cooling on
this third day. After all, Friday's A/D was 1048/425, and
yesterday's was taken to the extreme: 1356/156.
Volume in key sectors (banks and broker dealers) was quite heavy
yesterday however, sometimes portending a new leg higher, regardless
of today's follow through or lack thereof. The next few days and
weeks will tell us. On a volume and price movement basis
(particularly in the sector aspect), this woman has to be optimistic,
although this woman is always cautious at the same time. ^_^ It is
not May or August of 2003, or March of this year. Not yet, anyway.
On the other side of the coin, these comments by "analysts" make one
want to look for shorts:
> The market is ready for a rebound now that major events such as the
> U.S. presidential election have passed, so this week may be the
> "last opportunity to buy stocks before the end of this year," said
> Shinko Securities' equity strategist Tsuyoshi Segawa. He added that
> the Nikkei can reach 12000 by the year-end.
Oh, I'm sorry. It seems he is a "strategist", not an "analyst". I
have to be careful about slurring an entire class of people who don't
deserve it. ^_-
"Last opportunity" has a decidedly bearish ring to it, IMHO.
> Cosmo's Sato also said the Nikkei will likely top its year-high of
> 12163 by the end of the year, as the recent rise in U.S. stocks has
> eased concerns about Japan's economic outlook.
Blithely calling for an additional 10 percent move in the next 6
weeks, and topping it off with a non sequitur to boot. Amazingly,
this guy (one would presume) has *clients*, too. ^^_^^
It's very interesting right now, to be sure. Technically, we are not
in bad shape. But there is a dollar story on the fundamental side
that is beginning to scare the hell out of me. All in all, the
markets (particularly in the US) are much to sanguine at the moment
to give me a warm and fuzzy.
Yuki
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