Monday, February 9, 2009

Hussman: market internals have gotten a bit better

We've observed a small favorable divergence between the major indices and overall market breadth in recent weeks, as investors have begun to pick the wheat from the chaff. There is no assurance that this process will continue, (...) however, it's a good sign to observe investors being more discriminating about investment quality, because it allows investment returns on the basis of stock selection, without relying on sustained gains in the overall market.
Barron's Magazine

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