12 replies to this topic

[skott]

I agree and I'm not arguing with you just giving you the facts that I have and like I said we can go higher. I wonder how many people covered shorts since that data came out? I wonder who has access to that data and when do they get it? we get it, what, a month after the fact?

[Rogerdodger]

No problem. The market will tell us what will be.
As I posted this weekend, if anything is bearish, it is the distance of the price above the weekly 8ma.
"It needs a pause at least."
I think it's coming, but this 1st week of May should see new money.
It's up 75% of the time.
I'm just giving it a chance from today's lows.

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&yr=3&mn=0&dy=0&i=p28233431990&a=31991787&r=8151.png

Edited by Rogerdodger, 01 May 2007 - 11:05 PM.

[skott]

“How over-ripe is this market? A dependable barometer is mutual fund cash, currently around 3.8%, close to the all-time low. It requires big money to put the market up. Pull out a 30-40 year chart of mutual fund cash. An ominous trend, indeed! Hot air plus hefty buying by ETFs keep this market afloat. ETFs have no cash, nor do mutual funds. ETFs now account for one of every five bucks invested in the US stock market trading, the new casino. Full invested bears abound. When an outfit like Keel Capital, a hedge fund, closes up shop, claiming there is nothing to short, we must be getting close to something momentous. Even Vietnam boasts a rocketing stock market.” (1-May-07) Growth Stock Outlook, PO Box 15381, Chevy Chase, MD 20825 “Stocks are acting well technically, and our intermediate term models are unequivocally positive. Last week saw new all-time highs on the Dow Jones Industrials, the Dow Transports, the Dow Utilities, the Dow Composite, the NYSE Composite, the S&P 400, the S&P 600, the Value Line, the Russell 2000 and the Russell 3000. When the market made a new all-time high in February, and then sold off sharply, we noted that Ned Davis Research found that in the 13 out of the last similar 14 cases. Stocks went higher over the subsequent three months. So Wednesday’s joint new highs by all the Dow Averages are a bullish portent into midsummer. Also, Lowry’s “Buying Power” and “Selling Pressure suggest the bull has a few months left.” (30-Apr-07) Universal Economics, Suite B, 753 Thimble Shoals Blvd, Newport News, VA 23606