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It isn't all technical. Fundamentals are not the only methodology
but you can't ignore these things either. Standing back and looking
at the situation for how it stands right now, we have historically low
interest rates and even with a couple more 1/4 pt moves, will still be
very low, keeping money available. Corporate earnings are
improving. The public is buying. Wages are increasing.
Jobs are increasing. PE's are back in line with historical averages
and many are lower than average. Put ratios are bullish from a
contrarian viewpoint. Shorts are everywhere. Huge money is on
the sidelines. I don't care which way it goes as long as it goes
but I'm very guarded about being hung out short much right now. I
respect the chartists and techs but I love the common sense view.
Bob
At 07:56 PM 5/25/2005 -0400, you wrote:
The market responded nicely to the
bullish divergence starting on 4/30/03. It is now showing bearish
divergence and I wonder if the 1100 area will once again hold.
If not, it doesn't look too healthy.
Anyone looking long term?
Thanks
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