The down to up volume that the late Mark Haines always keyed off of to look for things to buy has been breached. That's a sign that you need to look for things to buy.
We are, at last, making some buys here. We are not yet trying to have more into the market than we are taking out.
But that will not be the case tomorrow if we keep up with this decline.
There's a very weird delayed reaction going on today where we didn't see the obvious downgrades that I would have expected.
Could that be the summer talking to us?
Could that be because there is no new real work being done on individual stocks right now because the analysts are too frightened?
I think it is a bit of both. But the Haines rule is causing us to put money to work looking for stocks that are down 10% or more from their highs.