market looks bearish, page-12

on the face of it, a 30 pt fall this a.m. looks bearish. upon closer inspection, BHP & RIO up strongly, not affected by neg sentiment. on average so far, not much change from yesterday.

now onto my pet hobbyhorse, the DowJones. last night's fall is no joke & by my theory at least, should have had more impact on our market. some will argue that I am mad, there are days when our market actually runs ahead of the Dow. my explanation would be that our market in relation to the Dow, is like a dog running ahead of its master when they are going for their daily walk. this could be because of instant communication, such as when commodity prices are changing or an important event or ann't overseas, enabling us to anticipate the overnite reaction on wall street.

but when it comes to the crunch & the master decides to change direction, the dog's got no say in it. these are just some rambling thoughts, anyone wants to criticize or comment, is welcome.

one afterthought: the overnite fall is not pretty, but it'll take more than that to establish (a) end of bull & (b) commencement of bear. the two are not necessarily synonymous: a market can decide to run sideways for any length of time.

thank you for your kind attention.