Pointing Out the Obvious wrote:
[quote]Ghost of Igloi wrote:
Smart money was also in at the top in 2000 and 2007. Best wishes on your tiger ride. Stock buybacks, mergers, acquisitions, spinoffs, financed through record covenant light debt issuance. Failed IPOs, story stock blow ups, questionable accounting, pressure to meet even lowered EPS. Falling revenue and deteriorating fundamentals cheered by institutions and the financial media. Goldman Sachs isn't any smarter than anyone else, they just have the resources. Remember Goldman almost went belly- up seven years ago almost to the day.
You were called a liar:
"This is fundamentally incorrect. Less than 20% of SP500 companies WERE above the 200 day moving average a month ago, but now 56% of such companies are above, over 60% of NDX and OEX are above the same average, and now 40% for the NYSE."
and this is your response?
why the hostility? cool it brah
anyway, there are many measures of big cap stocks - Sp500, NYSE, russell 1000, nasdaq - in volatile times you can usually find one index that proves your point.
the moving average claim is probably true for one index but not for another.