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The Blackstone Group L.P. Message Board

  • carolyn_novice carolyn_novice Nov 30, 2013 10:02 PM Flag

    Wisdom of Richard Russell BX @ 28.58

    Please ignore this message if you are long-term BX investor and not a trader.
    New Highs & lows
    During A Major Bull movement, it is normal to see stock after stock push out of their established patterns and rise to new highs for the year. If the upward momentum continues, those stocks, which recorded new highs, will continue to rise, and they will be joined by fresh “breakouts” which will also augment the “new high parade.”
    But when a bull movement shows a steady decrease in the number of new highs, it is a sign that the original rallying strength is ebbing. Such a market, regardless of temporary rallies or confusing fluctuations, may be said to be “living on borrowed time.” It is axiomatic that diminishing strength during a market advance will gradually turn into increasing weakness. By the same token, decreasing weakness during a market decline will materialize into a growing strength
    Weekending……………11/22/2013 …………………..11/29/2013.
    New Highs……………. 424……………………………….458
    New Lows……………...126……………………………….150
    Source: Barron’s Dec 2, 2013
    Total number of issues traded on NYSE is above 3,000. So we are getting less than 15% stocks making new high. Even though Dow and S&P 500 are making new highs, the advance line and new high list is shrinking.
    1. ABB is a leader of Swiss Stocks
    2. KKR leads BX same group
    3. WX Chinese Biotech market leader
    4. BX Very close to following KKR
    SNo ------------ Stock ------------ Closed ------------ New High------------Required
    1 ------------ ABB ------------ 25.55 ------------ 26.00 ------------ 0.45
    2 ------------ KKR ------------ 23.73 ------------ 24.08 ------------ 0.35
    3 ------------ WX ------------ 33.13 ------------ 34.15 ------------ 1.02
    4 ------------ BX ------------ 28.58 ------------ 28.73 ------------ 0.15

    For traders, if these stocks ABB, KKR, WX, and BX do not make high now, then we could be facing a deteriorating situation for the market as well.
    Last wee KKR and WX made new high, but there was no follow through, stock

    Sentiment: Strong Buy

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BX
33.12+0.26(+0.79%)Nov 21 4:02 PMEST

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