It’s Just About The Things I See And Feel
I am an
optimist. I swear — I swear — I swear. OK, I am not supposed
to swear. I wake up and kiss my wife, I kiss my kids. I read six newspapers. I
do the I-4 shuffle (16 highway miles in 45 minutes). I get into the office
wanting to believe we are in a new bull market. After all, Battipaglia thinks
it’s still a correction. Abby Joseph believes we are big time undervalued. I
want to believe — but I can’t. It’s just about the
things I see and feel.
When I see
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ADVP |
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CAH |
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HRB |
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break down badly, I worry. They have all tried to lead. When I see other leading
Medical issues breaking down, I worry.
When I see S&Ls like
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WM |
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When I see the S&P 500 fail to go topside above the 50-day average and still
below the 200, I worry. The same goes for the Dow and Nasdaq.
When I see Put/Call numbers spike down in recent
days, I worry. What happened to all the fear?
When I see a rush to speculate in news-driven stocks, I worry.
When I continue to see a lack of New Highs, a
rush into Technology just like January and
March/April, I worry.
I still believe this is a rally in a bear. Yes, I know — multiple follow-through
days. Yes, Technology continues to show terrific
relative strength. I just feel there are still too many
technical problems in this market. Can they be overcome? Sure! Anything can
happen. After all — I am an optimist.