Just some quick stats today using two-day old data (I hate having to manually update a database)
101 of 155 Industry Monitors industry groups are above their 50-day averages.
8 were above their 200-day averages
591 of 4962 common stocks were above their 200-day averages
84 stocks out of 2730 trading above $5 and averaging 0ver 200,000 shares per day are above their 50-day average which in turn is above their 200-day average
I won't get delusional here but these stats shows a decent chunk of the market is actually doing more than bouncing in a bear market.
From the Nov 20 low, the SP500 rallied 24% to Jan 9, 2009. From the March 9 low, the market had rallied up to yesterday, March 26, for a gain of 24%. There are only 2 more trading days left for the month and quarter end, so I wonder if some would try to sell all the way to the end of the month to show some decent quarterly results.
ReplyDeleteI know we are thinking just that in my fund. We are up on the year and it sure helps with marketing to be able to say so.
ReplyDeleteThanks Karlie!
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