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Funds, 1-10-13, 52 wk new highs (8,471), 52 wk new lows (357)

catch22catch22
edited January 2013 in Fund Discussions
For your viewing pleasure only:

Non-scientific numbers in total, for the ability to define a market(s) direction or trend. The 52 week highs listing travels among the majority of all common investment sectors; with a bond fund as well as an equity fund both having new highs yesterday (1-10-13).

52 week, new highs

52 week, new lows

There is and/or remains one helluva of an upward trend among a mix of bond and equity funds; or there is or is forming a near top coming to a "too hot to handle" period. Even the VIX indicator is traveling along its bottom/low number; and in theory indicates a "happy days are here again" mood looking forward for 30 days; or that perhaps too much feel good money is in place at this time. Perhaps a "limbo bar" indicator, with "how low can you go?".

Oh, well.

Happy investing and decision making.
Catch

Comments

  • CharlesCharles
    Thanks catch.

    You're right, looks like a lot more at news highs than new lows, like 25 times more. The site does not give full list option for the highs, like they do for the lows; otherwise, I would have screened for oldest share class, which would be more practical I think.

    FWIW, here's M*'s fair value indicator, which suggests we are right where we are supposed to be, based on historical valuations:

    image

    Not really happy yet, but not sad either...going in right direction.

    Doesn't the tracking of 52 week highs and lows factor into the Hindenburg Omen?
  • catch22catch22
    edited January 2013
    Howdy Charles,
    You noted:
    The site does not give full list option for the highs, like they do for the lows; otherwise, I would have screened for oldest share class, which would be more practical I think.
    It appears, at least related to the alphabet list; that when one clicks onto the 8401-8471 at the bottom of the page (for highs), this is the end of the list; although the wording as you note for the "lows" list does not have the word term "full list".

    Yes, to the Hindenburg Omen; although it uses the NYSE equity only highs/lows ratios.
    Added note: here is the NYSE list from 1-10-12, which is 297 new highs versus 4 new lows.

    Hindenburg Omen, per Wiki

    Hindenburg Omen, technicans site view

    As to the original site link; a full 96% of the total list is new 52 week highs. I have not had time to find an equity funds only list for a similar view. At the very least, with the mix of equity and bond funds finding new highs; confirms to some extent, that the battle between the two areas continues. Now, if one could move backwards to review periods of 1,2,3 and more months ago; perhaps a better conclusion could be in place.
    And, some of the new 52 week lows are high income funds. This indicates the one known flaw of the list, in that no high income funds should be in this list. My best guess is that this is a problem with active management bets going the wrong direction. Other highs include 2X and 3X fund types.
    So, in my opinion; that a lot of the funds on this list are active managed, could cause some problems for a true view.

    An interesting list, none the less.
    Thank you for the fair value chart.

    Regards,
    Catch
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