tag:blogger.com,1999:blog-7444476276287180978.post4526437681785841863..comments2023-11-20T05:15:20.137-05:00Comments on Behind the Headlines: Here Comes the BullMichael Kahnhttp://www.blogger.com/profile/10668546349672243203noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7444476276287180978.post-80015897215132509342009-05-07T10:59:00.000-04:002009-05-07T10:59:00.000-04:00I cannot comment on the McC Oscillator as it never...I cannot comment on the McC Oscillator as it never was a part of my arsenal.<br /><br />However, the disconnect created by non-free market meddling is palpable. I ran a chart in the newsletter this morning comparing the last bottom (2002) with this one and where the 200-50 expo moving avg system fit in. It plays out according to Fenner's scenario.Michael Kahnhttps://www.blogger.com/profile/10668546349672243203noreply@blogger.comtag:blogger.com,1999:blog-7444476276287180978.post-23831858781695769522009-05-07T10:08:00.000-04:002009-05-07T10:08:00.000-04:00Michael,
The reason the technicals were blown out...Michael,<br /><br />The reason the technicals were blown out was because radical monetary policy is in the process of blowing another monstrous bubble, technicals do not predict bubbles. That said, we're looking at a greater disconnect here between reality and fantasy than ever. The housing bubble produced jobs. Ritholtz, I recall, had some amazing figure about the percentage of jobs created by housing during the last bubble. This new bubble in the financials and ultimately in the the spx will produce zero jobs, wages will continue to plummet, as will hour worked and therein lies the disconnect. The question now is when will that idea truly start making the rounds? When will people care more about the fact that new jobs are not being created than that fewer jobs are being lost? That's when the bear will return. This new bubble will be shorter lived because there are fewer fundamentals to back it up than even the tech boom.<br /><br />I wish you'd comment on this. Thanks.fennerhttps://www.blogger.com/profile/00282780062551780146noreply@blogger.comtag:blogger.com,1999:blog-7444476276287180978.post-72236818871197431242009-05-07T04:02:00.000-04:002009-05-07T04:02:00.000-04:00Looks like the McClellan Oscilator (market breadth...Looks like the McClellan Oscilator (market breadth) is showing divergence. Perhaps Michael would like to comment.MrWave4https://www.blogger.com/profile/14653827887547598022noreply@blogger.comtag:blogger.com,1999:blog-7444476276287180978.post-59272650964734415442009-05-06T23:18:00.000-04:002009-05-06T23:18:00.000-04:00Hey Michael;
The last time I commented I said tha...Hey Michael;<br /><br />The last time I commented I said that I thought 9K was doable and I still think it is.<br /><br />I agree that the market is very overbought and maybe we get a correction after the "stress" news, but as I said before I am looking for signs of a negative divergence and as yet see none.Anonymoushttps://www.blogger.com/profile/11489600754084649535noreply@blogger.com