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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 !!!

Monday, October 03, 2011

Stock Market Registering Deep Oversold

The TRIN indicator measures downside vs. upside in terms of volume and breadth. A rising
TRIN shows the bears have the upper hand. I like to watch the 21 and 55 day TRIN readings to
determine how oversold the market may be. Through today, the NYSE TRIN 21 and 55 day m/a
readings are showing a heavily oversold market. Markets can of course get more oversold, but
this TRIN measure, when viewed historically, has reached levels consistent with a market that
may be close to a short term bottom. $TRIN

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