StockTwits
07-16-2010, 11:10 AM
Bespoke Investment Group - Think BIG - Based on Breadth It Should Probably Be A Lot*Worse (http://abnormalreturns.com/links/170433/visit) (www.bespokeinvest.com)
by bespokeinvest 8 minutes ago
While a 2% decline is bad enough, today's breadth is absolutely abysmal. In the S&P 500, there are currently only ten stocks trading higher and 489 trading lower (one stock is unchanged). Going back to 1990, there have been 59 other days where the S&P 500 has had a one day breadth reading of -450 or more (as of 11:45 Eastern today's breadth is -479). On those days, the S&P 500 has seen an average decline of 3.7%, and there have only been six days where the decline were less than 2%. So, as of now the longs are getting off easy!
see story at Abnormal Returns site...(RSS feed) (http://abnormalreturns.com/links/index?date=07/16/2010#170433)
by bespokeinvest 8 minutes ago
While a 2% decline is bad enough, today's breadth is absolutely abysmal. In the S&P 500, there are currently only ten stocks trading higher and 489 trading lower (one stock is unchanged). Going back to 1990, there have been 59 other days where the S&P 500 has had a one day breadth reading of -450 or more (as of 11:45 Eastern today's breadth is -479). On those days, the S&P 500 has seen an average decline of 3.7%, and there have only been six days where the decline were less than 2%. So, as of now the longs are getting off easy!
see story at Abnormal Returns site...(RSS feed) (http://abnormalreturns.com/links/index?date=07/16/2010#170433)