Dow
Change In Market Character
The Major Trend Index fell into its negative zone last week and we trimmed the already below-average net equity exposure in tactical accounts by a few more points, to a current 41-42%.
Assessing Yesterday's New High
Traders like to say there’s nothing more bullish than a new price high, but not all new highs are created equal.
Bulling Through The History Books
The Dow Jones Industrials’ bull market gain of +150% is well ahead of the long-term median (+86%) and average (+134%), and places the 2009-to-date move as the sixth-best all time.
Everyone Gets A Trophy
It’s not just kids’ sports where the achievement bar has been lowered.
Rationalizing Dow Jones 4000
Like the summer of 1987, financial writers, brokers and investment managers are attempting to come up with reasons why it will be different this time.
View from the North Country
The December Bottom Fishing Expedition…Where the Speculative Action Is…Revising Our Troubles Away…Annual Dow Jones Tirade…It’s Not Getting Any Better in Rural America