The market seems to be looking up.
November 28th, 2007 by Grant in: Economics, Investing, Market TrendsThings aren’t looking half bad in the stock market these days. The volume of the NYSE listed shares that rose in price is more than 94% of the total volume on that exchange, which means the chances are good you made some money today.
Those in the “know” call these 9-to-1 up days. Days where there is a drastic imbalance of shares trading up over shares trading down.
Martin Zweig worte in his 1986 book, “Winning on Wall Street” that “Every bull market in history, and many good intermediate advances, have been launched with a buying stampede that included one or more 9-to-1 up days.”
A bull market? Seriously?
Existing-home sales fell an eighth consecutive month during October, a victim of the credit crunch, CitiGroup is getting a $7.5 billion dollar infusion from Abu Dhabi to stay afloat, and the market is counting on yet another Fed rate drop in December to take the edge off this wild roller coaster ride of an economic cycle.
I’ve never been able to see how we could percieve all this information as “bullish”, but my good brother has finally convinced me that I should quit trying to understand it, and just take what the market gives you…
Tags: economy | markets | Martin Zweig | Stock Market
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November 30th, 2007 at 1:35 am
I think I’m starting to subscribe to the random walk theory…the market confuses me greatly sometimes.
December 3rd, 2007 at 2:59 pm
I’m glad to hear there are signs of life in the stock market. I’m hoping some of this will translate to the real estate market as well!