Friday, June 01, 2007
Back To Stock Indices
Dear Readers, You know, by now that when we get a high Sell Pressure readings we get into the countdown. We are now into the second day of such countdown. Frankly, more of these countdown days better we like. Before the big drop in March this countdown has lasted to 5-6 days. That is important, cause what we have here is the principle of distribution. More days the stock stays sideways/littleup after the sell signal better the chances of distribution. More suckers have loaded up on stocks. That is why we like those kind of situations. So, relax and watch the gages, let's hope that we get 2-3 more days of distribution.
Has anybody noticed 5% 10Year Notes? Thanks
To Dear Sqroot's comments. I think he means and I agree that hitting actual higher number on SPX than the high of 2000 will be a very big psychological point. It will convince everybody and their mother about new bull market beginning now. If/When market turns down after that and closes weekly lower than week before I believe that will be a historical moment, meaning of which will only be known to the suckers "at large" years after...