Wednesday, November 18, 2009

DOW Theory Buy (Recently)

In case you missed it, the DOW Theory buy hit last Monday

As Mark Hulbert (not pictured) reports, the action on the Dow Transports last Monday finally triggered a Dow Theory buy signal, which has been enough to persuade some erstwhile bears to grudgingly turn bullish. Of course, Hulbert notes that there may nevertheless be some Dow Theorists who remain dismissive of this buy signal due to the lack of any extended correction since the market's March low.

Richard Russell (not pictured, either), editor of Dow Theory Letters, is one of the technical analysts who, in light of the joint new highs of both the Dow Industrials and the Dow Transports, are now officially bullish on both the secondary and primary trends of the stock market.
There you go.  Good to know, I suppose.
But heck, Gary Kaltbaum was talking about “momentum tops” on his radio show today.  Of course, he was hedging this way and that way and being rather unspecific with regards to making any sort of market call.  As usual. But he does have an entertaining radio show.
I remain 100% long.
Pictured is Monica Raymund, from Lie to Me.

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