Market watch National Edition

AUG. 18 - The market continues to show a slow, steady broadening in the number of stocks doing better. The NYSE bullish percentage made a new recovery high at 50% and the percent of NYSE stocks above their 10- and 30-week moving averages also made new peaks at 63%. Our master indicator continues to...

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Bibliographic Details
Published inNational post (Toronto)
Main Author Sherry Cooper, Paul Rabbitt, Michael L. Burke, Richard J. Moroney and Paul F. Desmond
Format Newspaper Article
LanguageEnglish
Published Don Mills, Ont Postmedia Network Inc 28.08.2000
Subjects
Internet stocks
Investments
Stock exchanges
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Summary:AUG. 18 - The market continues to show a slow, steady broadening in the number of stocks doing better. The NYSE bullish percentage made a new recovery high at 50% and the percent of NYSE stocks above their 10- and 30-week moving averages also made new peaks at 63%. Our master indicator continues to be very bullish, and our industry group bullish percentage shows only one group in overbought territory. Advisory sentiment is only modestly above normal readings for a bull market. We are also in a very favourable election year. AUG. 21 - Closes above 11,287.08 in the industrials and 2952.63 in the transports would return the Dow Theory to the bullish camp. A failed rally would imply the market could be stuck in a trading range for several months. Subscribers should maintain 10%-20% cash positions. For new buying, Citigroup (C/NYSE) US$74, CTS Corp. (CTS/ NYSE) US$49 and Dover Corp. (DOV/NYSE) US$48 are particularly attractive.
ISSN:1486-8008