12 days now offa da bottom, 3 of those days closed down...in name only. Not a single day of real giveback.
That is not what bears OR most bools had in mind the morning of March 16th with a 7% correction in progress and down 250pts that morning before it reversed.
This market's gotten no respect on the way up. It never has except the week or two before a top. Then it gets some luving, and just when the train is signed up for, it pulls the rug for a spell which clears the train.
Once again the market has done what it periodically has to to shake the tree and keep the fewest on board enjoying the ride.
2 yrs, 20 days and counting.
Mid Cap new highs. Trannies new highs. Rusell 2000 small caps, new highs, Dow poked into new highs briefly Fri.
QQQ big tech 100 lagging. That was another excuse for hating the market, Market can't do well without big tech.
UhHuh.
We enter yr 3 of the Ya But "phoney recovery/no jobs" bull market what gets no respect
1st quarter was best for the Dow since 1969...
Where's the party?
Where's the cheer?
Nothing but,
"Ya But",
F
fabian Share Thursday, March 17, 2011 12:05:32 PM
Re: fabian post# 672779 Post # of 674151
So far this correction has been very similar to the 3week correction the market had mid Jan 2010 to Feb 2nd or so 2010.
Sentiment got stinky bullish by mid Jan. of '10
The 3 week correction was sharp and enough to make for a huge tilt to the bearish sentiment side. Enough so to mark a decent bottom.
Very similar to how this started and the last 3 weeks action.
The market yesterday was nicely oversold and sentiment was quite bearish-contrary bullish, good for a bounce.
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