I believe the $200 million man is now out of the market, up or down. We continue to drift up. He's thinking, like I am and others, we've been going up for quite a while, the market seems tired, we're due for a down move. But that's how these rallies keep going, is thinking like that. Everything is still relatively negative. In fact, I don't talk about the Russell 2000 much because it's kind of inconsistent, but I will say that the Russell reached its most negative point of the year on Friday, with 18.66 on the positive side and 48.82 on the negative side. So even though we've been going up and up, people aren't buying it yet, which I think will send us even higher, for now.
If any of you looked at that link I had on a past post which sent you to the chart of the Dow from 1900 to present, you might have noticed a little ad in the corner of the page from some guy advertising his market software, and he was predicting the selling would start on September 30. Just looking at how long it took to reach the high when looking at what happened back in 2007, comparing it to the similar pattern I was talking about in a recent post, if we were to continue to follow that pattern, I have to say that he might have something in that September 30 prediction. I wonder what he based it on. I still watch the Bradley, although it hasn't worked well at all since the bear market started, but we do have a Bradley date on November 1. Interesting.
The $200 million man did get totally out as of Friday. The numbers for the past week in the S&P 500, which is what he exclusively plays:
Monday: 65.42/258.77
Tuesday: 68.32/253.94
Wednesday: 67.05/205.54
Thursday: 154.87/186.65
Friday: 66.28/193.48
The Nasdaq 100 numbers were getting a little high earlier in the week last week, but finished the week more negative, which is good for continuing the rally. The numbers for the past week:
1.63, 1.93, 1.83, 1.38, 1.51
Rob
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