"Nobody wants to get in the way as the freight train comes down the embankment," said one Wall St. trader. The market has fallen 14 of the last 18 sessions, and is now in a range where, like My FOX INDEX, which measures the distance from a healthy market (12,000 Dow, 1,300 S&P, 2,500 NASDAQ) to nil, nada, nothing, it hits new lows daily. Yesterday the FOX INDEX arrived at a new bottom of -7,223, now 46% of the way from healthy to zero [see chart]. Oh my. Freight train going down the embankment.
Friday, March 06, 2009
Market Keeps Dropping
"Nobody wants to get in the way as the freight train comes down the embankment," said one Wall St. trader. The market has fallen 14 of the last 18 sessions, and is now in a range where, like My FOX INDEX, which measures the distance from a healthy market (12,000 Dow, 1,300 S&P, 2,500 NASDAQ) to nil, nada, nothing, it hits new lows daily. Yesterday the FOX INDEX arrived at a new bottom of -7,223, now 46% of the way from healthy to zero [see chart]. Oh my. Freight train going down the embankment.
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