Tuesday’s reversal after the Fed cut .75 still left market breadth showing an extreme of pessimism, with fewer than 80 of the S&P500 stocks trading above their 200 day moving averages.
The NYSE also printed a new low for stocks trading above their 200 day moving average.
For the NYSE, this percentage of stocks trading beneath their 200 day moving average is lower than any time in the 1994, 1998, and 2000-2002 bear markets.
Wood, can you overlay the performance of the indices over those?
Wood;
You are right. I’m still in 100% cash. The next bottom will be the best spot for position trades. Unless the GIANTS win!!!
Wood,
Let me quote Ray Liotta here:
Fuck you, pay me!
__________________
Brotherhood of the Paternal Order of Elks,
What happens if the Giants win? (Which they will, btw).
Wood;
I love it when you talk to me like that. If the GIANTS win all the CNBC people will tell the truth for one day and little guy will short the market and end the ression. Ha fucking Ha!
Oh I forgot.
BPOE stands fot biggest pig on earth
Juice, I’ll give it a try.
BPOE, no offense, but I’m not sure what you are talking about.