Markets have no buying interest as new administration is struggling with clarity about current economic mess.....everything is up in the air in terms of resolution of banking issues or economic challenges.
President Obama needs to boost confidence of consumers & investors..instead of being wrapped up in political fight for changes on day one......based on current economic upheaval Obama should focus on getting the economic job done FIRST and DELAY all the CONTROVERSIAL changes in health care/taxation @ this stage... prudent TIMING is everything ....
Nasdaq is the lone index still hanging above lows????
Advance decline ratio now hitting extremes seen NEAR lows......
In NYSE declining stocks were leading by 15.79 to 1
In Nasdaq declining stocks were leading by 6.53 to 1.....
Down volume on NYSE were leading by 50.27 to 1
Down volume on Nasdaq were leading by 31.83 to 1
Down volume indicator is most extreme which I have observed.....sign of total CAPITULATION...????
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi All,
You all know about the Uptick rule being taken out late 2007. Read about it Wickapedia. It says that the SEC removed it as a one year experiment to see what would happen. Academics said it was no longer needed. Since that time officials have pleaded with the SEC to reinstate it, to no avail. FEB 29th 2009 was the last time reinstatement was suggested.
Best Regards
Hi Standards,
Wall Street players control what goes on in SEC....
Evidence.... Bernie Madoff worked with impunity..know matter how many complaints were filed with facts & figures.
Saleem
Hi Saleem,
Held off my GE purchase after seeing the futures. Looks like we might make 6000 after all.
Best Regards
Hi Standards,
Any purchase must be done with careful consideration....markets are very iffy....
Saleem
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