Cyclicals have just barely matched the market this year, but
the relative strength line(RSL) for the group has been holding
support and does not yet indicate that investors are ready
to go along with the "double dip" economic scenario. For
that, I think we would need a sharp break down in the RSL
for the group. Chart
- Peter Richardson
- Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!