I just wanted to add one more comment to today's posts. While there hasn't been a great deal of volume in this week's selloff to indicate capitulation, and a few measures of sentiment are still neutral, there are other factors to consider.
The decline from 12/26/07 to the 1/23/08 low in the SP500 took 18 days counting the reversal day. The decline from 9/19/08 t0 10/10/08 took 15 days and the current decline from 2/9/09 to today has been 17 days.
The decline from 5/19/08 to 7/15/08 took 40 days. The decline from 8/11/09 to 10/10/08 took 43 days. The current decline from the 1/6/09 high to today has been 40 days.
Sometimes we get so caught up in looking at indicators and waves, we forget to look at other facts staring us in the face. I do believe this market will fall further to complete primary wave 1 and intermediate wave 5, but as for the moment, is it realistic to expect the markets to continue to fall for many more days beyond the times required for the extreme declines of last year? I doubt it. It may be a 4th wave rally that only lasts a week or so, but we are surely near a reversal of some degree.
Caution.
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Craig,
Know anything about this ???
“…other news in focus this morning includes chatter that the UltraShort Financials ProShares will soon be halted for trading…” http://www.thekirkreport.com/
I Googled, but didn’t find anything. I once bought something the day before the SEC suspended trading for TWO months. When they lifted the halt, they didn’t do one dang thing enforement-wise, but the mere suspension killed the stk.
My interest isn’t in the direction of the ETF, but why they would halt trading in a major ETF and whether other ETF’s are being considered.
Regards,
dave
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