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I agree; there is not only the VL index behaving this way: look at the CBOE Small Caps 600 index: just near all time highs. I discovered it last week. How can such things happen: Naz is down a full 61 % from its all time high, while at the same time another small caps index is just 5% of its all time high ???
Carl
--- In realtraders@xxxx, DH <catapult@xxxx> wrote:
> Earl wrote:
> > I too have pondered that question .. I think you'll find a fair part
> > of the answer in the small and mid cap indexes.
>
> I hadn't looked at the Value Line Arithmetic average for a while. It's a
> pretty good gauge of what's going on under the radar of the big names
> because it is an average of a huge number of stocks and, unlike most of
> the other averages, it isn't weighted by market cap. Most people would
> be surprised to see that it's been in a raging bull market for the last
> year while the big-name averages have been in raging bears. Somebody is
> quietly accumulating a lot of second-tier stock while the media focus on
> the Naz, the S&P, and the Dow. Are they right? Who the heck knows?
>
> --
> Dennis
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