4 responses

1. Casey’s General Stores looks like it topped and rolled over.

   I’m reading the chapter in market wizards where they interview William O’Neil and he mentions the advance/decline line as something to pay attention to. I haven’t looked at it in a while so I googled it to get a picture of where we’re at now in the market and things look very poor at the moment.

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   • Thanks for the input,

     Here’s a link if you have not seen it already showing advace/decline metrics as well as bond spreads.

     Advance/Decline Metrics

     On an Ox Talks video about three/four days ago, he discussed another (meltdown) metric. I cover that in my 1929 post from a few days back.

     1929

     I appreciate your comments.

     Regards,

     Paul

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   • Market Wizards is a good one to read.

     Throughout the book, everyone has computer screens all over their desk, except for one (if I remember correctly).

     MIT educated engineer Ed Seykota had no computers visible. In fact, the interviewer can’t see the evidence of electronics anywhere.

     I found his (Seykota’s) experience with corporate life to be the most revealing about real world big business so called ‘management’.

     What the ‘once every hundred years’ metrics are now (likely) telling us, when the unwind comes, it’s likely to be swift.

     Thanks again,

     Paul

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   • The huge 107-pt gap in CASY could be a ‘breakaway’, like the one in AZO.

     We’re near the end of the Quarter. On a longer time frame, Force Index to the downside is the largest ever going all the way back to early 1984.

     Force Index, is literally ‘off-the-chart’ 🙂

     I might put that in an upcoming post.

     Thanks again,

     Paul

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