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What a day to be away from the market! I left just before 2pm … sigh…
I can atleast take solace that my bullish bias was vindicated. And I think it’s safe to say this was a 90-90 day, as per Lowry’s definition. This reminds me of what happened last summer and what I wrote then. If you listened, you made some ching. If not, there is this opportunity now. Take a look at the breadth numbers for today:
If you’re not familiar with the Lowry’s 90-90 day concept, I’ve attached their 2002 report: IDENTIFYING BEAR MARKET BOTTOMS AND NEW BULL MARKETS by Paul F. Desmond (pdf).
Also, don’t forget to read what Mark Hulbert says about today’s market action from a similar perspective.
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