Change of market character
October 6, 2006
There is a bid in the market currently. Morning weakness is being bought in later half of day. Probably an indicator of lot of activity by the elephants.
Other encouraging signs are the small caps are rallying. IWF which represents the growth stocks in Russell is breaking above its two year range. Small caps, technology, biotechs are all finding bids. Key earnings play like GOOG, BOT, RIMM etc are rallying.Brokers are rallying. Goldman Sachs and other similar companies are rallying.
The markets reaction to news is also encouraging. The market is shrugging off negative news.
It looks and smells like a bullish conspiracy ;-)
Other encouraging signs are the small caps are rallying. IWF which represents the growth stocks in Russell is breaking above its two year range. Small caps, technology, biotechs are all finding bids. Key earnings play like GOOG, BOT, RIMM etc are rallying.Brokers are rallying. Goldman Sachs and other similar companies are rallying.
The markets reaction to news is also encouraging. The market is shrugging off negative news.
It looks and smells like a bullish conspiracy ;-)
that change of character changing... i see tons of divergences on IWM - volume, MACD, MACD histogram, ADX, and RSI - not that that means anything...
ReplyDeleteAs long as I continue to find stock like these , I don't care even if the market tumbles 50% from here. I will be out much before that plunge anyway.
ReplyDeleteACOR
AKAM
ALGN
ANGN
ANOR
APN
AVNC
BITS
BRLC
CBEY
CHDX
CLEC
CNR
CPY
CRVL
CTDC
DGIT
DTLK
DVAX
GIGM
IAAC
INAP
INPH
ISIG
LBIX
LOUD
MDV
MFRI
MWRK
MYOG
NGA
NVEC
OLAB
OMG
PCCC
POZN
PRGX
SCT
SIM
SPPI
STEC
STSI
SWHC
SWKS
SYX
TALK
TATTF
TCHC
TRT
TUG
UAHC
VSGN
VSNT
WRSP
YAKC
ZONS
nice - none or your longs are my shorts!
ReplyDelete