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thanks bossTrades with cats wrote:Pretzel Charts monologue this morning on DOW hasn't gotten above February highs while the S&P has and the NAS is all time high. He says lack of liquidity. Says it is very meaningful since the DOW has been leading the S&P for most of this 9 year move. B of A Merrill said yesterday January and February were double the old record for buybacks and according to some they are 70% of the net new money over the last several years.Al_Dente wrote:CURIOUS:
The dow $INDU is still below its 50-day-moving average
Most everyone else is above
I am reading Jess Livermoores lightly fictionalized biography. A 100 years ago he was talking about how most people fail to turn paper profits into deposits into their bank account. My hunch is some of the big operators are following his advice. We saw that again yesterday. Up move stalled on Monday followed by two days of selling that let many get out well above the recent lows. Also the quarter end is coming and who knows what the pension funds will be forced to do by the changes in the bond market.