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FUTR-Spoils of a Pig Market
JW I agree, I pay no attention to Perennial bears in a bull market. A broken
clock is right twice a day. However, the MARKETS told everyone the fun was
over, only many traders didn't listen to the price action, they would rather
tune to CNBC and hang on every word of the so called experts. On August 4th
the S&P Overbalance in price the largest down day since the October 97
crash. It was the 3rd largest down day in history. The new high/new lows was
scary at 526 new lows and only 21 new 52 week highs, up volume to down
volume was very bearish. Sure the next day the S&P went limit up but it was
on unconvincing volume and the new lows new highs did not improve. I have
learned to listen to what really matters the PRICE ACTION many so called
experts are really only guessing to which direction they think the market is
going.
-----Original Message-----
From: JW <abprosys@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, September 04, 1998 9:03 PM
Subject: Spoils of a Pig Market
>Good weekend reading from Fortune. Here's the summary:
>
>Looking back on it a few years from now, something surely will stand out,
>some signal that should have warned us that our infatuation with the stock
>market had gone too far. No, it won't be those stratospheric price/earnings
>multiples and the like. Wall Street Cassandras have been wagging crooked
>fingers at us and ranting about the market's out-of-whack fundamentals for
>years. Had we listened, we'd have missed half the fun.
>
>http://www.pathfinder.com/fortune/investor/1998/980907/pig.html
>
>JW
>abprosys@xxxxxxx <mailto:abprosys@xxxxxxx>
>
>
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