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About Me

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 !!!

Thursday, December 07, 2006

Stock Market

The intermediate overbought condition of the market I
have been discussing in recent weeks has eased slightly
but remains very much in force. Since I give this
kind of overbought six to eight weeks to work off, it
looks like the caution light could be on until year's end,
barring a sharp sell-off that is tightly time-compressed.
Now, my primary indicators are proprietary internal
supply / demand measures, but the weekly chart of the SP500
shows the overbought in more conventional technical terms.
For a view of this chart, which features RSI and MACD
indicators, click here.

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