MARKET COMMENT November 6, 2008 There was some feedback yesterday’s image was a little over-the-top.
Source: http://etfdigest.com/daveDaily.php?id=699Posted on Thursday, November 6th, 2008 | In Exchange Traded Funds
MARKET COMMENT
November 6, 2008
There was some feedback yesterday’s image was a little over-the-top. So, I’ll be a good boy today and not try to offend the sensitive among us since the markets are offensive enough, right?
There’s a lot of ink that this post election market is one of the worst in history. But, perhaps a little perspective is in order. When the current president [we can’t use his name] first won in 2000 we were entering a bear market that began with the dotcom collapse [you remember that I suppose] and on into a recession.
Volume picked-up some today with more selling and breadth is as negative as you might expect. As it turned out yesterday was a 10/90 day as declines and volume were that negative. ETF Digest subscriber and blog reader David Hurwitz was kind enough to assemble this volume and breadth chart for us and it confirms another 10/90 day. Thanks Dave!
The market’s action is violent and we’re looking for calmer conditions like a sea captain looking for calmer waters. For anyone wanting take and hold positions with reasonable stops market volatility won’t allow it. Overtrading would be the result not to mention some lost sleep.
So, that will do it for us today and you see I’ve been a good boy!
If you’re interested there’s a 10 question and answer interview session we just completed with the Kirk Report with link highlighted HERE. Charles Kirk is one of our favorite people and we owe him a special thanks for all his hard work not to mention the interview opportunity.
Have a pleasant evening.
Disclaimer: The ETF Digest maintains no positions in any of the highlighted securities.
Last 5 posts by David Fry
- MARKET COMMENT October 22, 2009 DRIVE-THRU SOUP KITCHEN 2009 So, what the hell was yesterday about anyway? - October 22nd, 2009
- MARKET COMMENT October 20, 2009 TAKING A BREAK It was a pretty strange day. - October 20th, 2009
- MARKET COMMENT October 13, 2009 EARNINGS WORRY WARTS I just have a spooky feeling but then I always do. - October 13th, 2009
- MARKET COMMENT October 8, 2009 GETTING SOME ALTITUDE SICKNESS YET? - October 8th, 2009
- MARKET COMMENT October 2, 2009 REALITY BITES BULLS Economic reality is meeting bullish enthusiasm and the results are disappointing and upsetting. - October 2nd, 2009
 About David Fry (http://etfdigest.com)
Dave Fry has devoted over 35 years to the business of trading and portfolio management. His registration as an arbitrator with both the National Association of Securities Dealers (NASD) and the National Futures Association (NFA) attests to his extensive experience and spotless compliance record. Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and advice on ETF investing. Dave is a frequent commentator on ETFs and other issues important to individual investors, and his perspectives are featured in financial news sources such as the Wall Street Journal, MarketWatch, Investor’s Business Daily, Smart Money, Dow Jones Newswire, National Business Review, MSN Money, Yahoo! Finance, Bankrate.com, Emerging Markets Monitor, IndexUniverse.com, and ETF Investor. |
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