Posted by Davy on October 29th, 2007 in Worth Reading (links to articles, etc.)
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E.S Browning has a nice article this morning in the WSJ, digging into the market internals and what he finds isn’t pretty. The piece is definitely worth reading for yourself but the parts that struck me most was the point that over half the S&P 500 were trading below their 200-day MA. While that index is lagging the other major indices (Dow, Nasdaq, Wilshire), it does signal caution ahead.

A bottom-feeder like myself spends some time perusing the 52-week low lists and it’s surprised me lately to see how many stocks regularly show up despite some indices close to all-time highs.

Bottom line: caveat emptor.