>>>"There is little doubt in my mind that we have either seen the bottom of the Bear market, or we are very close to it. Let's look at the facts:"<<<
Lots of Laughs! Question is, how many other "bottoms" have these folks called over the last two years? Looking at there "facts", for some reason I don't feel convinced. Appears their logic is solely based on past "bounces". Possibly another bounce but not enough info here for me to agree that this bounce is off the bottom.
FWIW, for that "bounce" we had last week it appears to me that we had a fair amount of distribution although the Dow and the NYSE were up for the week. Maybe manipulation of the more "important" stocks to move the averages? Hmmm...
Anyway, this week we saw huge volume on the NYSE at 11.9 billion shares. There were 6.8 bil shares down versus 4.7 bil in volume on up shares. The surprising numbers here are that decliners beat out advancers 2244 to 1200. Almost twice as many stocks ended the week down as up.
The Nas ended the week down 57 points. Total volume was 11.3 bil with up volume at 3.6 bil and down volume at over twice as much at 7.6 bil. Advancers were 1330 and decliners were 2596.
Interesting that the Dow transports ended the week down 3.4% and the industrials were up 2.9%
FWIW, JOe
