23 replies to this topic

[denleo]

What we have here is a perfect set up: Breakout to new all time highs last Friday, followed by a low volume pull back today, while High beta NASDAQ continues to go up. What else do you need to see how bullish things are? Denleo

[Jnavin]

I would agree, except for the bond market being closed today which negates the "low volume" part of your read. Of course, there's low volume. Many folks slept in.

[ogm]

Doom and Gloom is rtaging on CNBC again. Analysts downgrading everything in sight. Consumer just about pronounced dead. Economy slowdown unavoidable. Earnings estimates came down from 6% growth to 0.7% growth for the quarter. Talk about low expectations. And all that gloom with the DOW 30 points off the highs.

[Drano]

Thanks for CNBC reports. I don't have cable....

[atlasshrugged]

Thanks for CNBC reports. I don't have cable....

you must live in Montana!!

[Jnavin]

I have cable, but I never watch the propaganda.

[HoseB]

Doom and Gloom is rtaging on CNBC again. Analysts downgrading everything in sight.

Consumer just about pronounced dead. Economy slowdown unavoidable.
Earnings estimates came down from 6% growth to 0.7% growth for the quarter. Talk about low expectations.

And all that gloom with the DOW 30 points off the highs.

This is apparently the "kitchen sink" quarter... where everything possible is thrown into the negative. Knowing that, the only possibility is that things must be "better than [lowered] expectations" in 4th Quarter and later.

Therefore, "party on, Garth".

[denleo]

And most importantly NASDAQ and NASDAQ 100 breadth remains negative despite those indexes being higher, which confirms my 98-99 scenario, which in turn confirms that gains are going to be faster and larger than normal. Denleo

[relax]

denleo, have you been hired by ogm's bull squad you're defending the bull case as fast and frequently as ogm

[esther231]

The bull seems to be doing a pretty good job of defending itself.