"Prospective returns for a balanced portfolio are at some of the lowest levels in history." Dr. John Hussman, of the Hussman Funds
I would really like to be bullish and optimistic, but the chart below stands in my way. This is the advance-decline line for the NYSE. I've been waiting to see if the A-D line would confirm the new highs seen in the major stock averages. Note on the chart that the A-D line turned down yesterday, an action that I took as discouraging. This action is telling us that the majority of NYSE issues are reluctant to follow the big stock averages.
When I was a child during the Great Depression, I heard many pessimistic discussions and much negative talk on the part of my parents and their friends. In fact, I grew very accustomed to such talk and such bearish sentiment. I became so accustomed to pessimistic sentiment that I ... Log in or subscribe to continue reading.
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