13 July 2012

Of the 485 stocks that made new highs last week, 346 are already below their close from five days ago.  This typically signals excessive panic-buying which is followed by selling.

 Long term is still substantially below its peak values.

Medium term has declined sharply from overbought territory.

Short term is not extremely oversold.  However, it is becoming more risky to initiate short sales.


"People often say that this or that person has not yet found himself. But the self is not something one
finds, it is something one creates."
Thomas Szasz