Posted Wednesday, August 20, 2008 @ 12:01 am by Dr. Wish
GMI: 3; GMI-R: 5; mainly in cash
The GMI fell to 3 (of 6) and the GMI-R to 5 (of 10). There were 11 new highs and 146 new lows in my universe of 4,000 stocks on Tuesday. With many failed break-outs, and more new lows than highs, this market looks treacherous on the long side. Better to be in cash or a little short.
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Comments ( 1 Comment )
Eric Stokes added these pithy words on Wed, 8-20-08 at 8:39 pmThis strikes me as a lame post. The previous entry was about “the uptrend” and getting long. Now, you are shifting gears toward “it’s dangerous times”. That doesn’t strike me as a very quantitative approach, which is what I have always admired about your effort.
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