12-17-11 Comments

The Market School Exposure count reamains at zero. There is has been no reason to go long here. I patiently await a follow-through day and conduct limited exposure on the short side like BIDU. In the mean time the IBD6000 index percent of stocks showing high distribution (E rating) has climbed back up to 7.5%. In history a rally that begins from this level or higher has better chances of succeeding. We were showing too much complacency a week ago with a percentage figure below 5%.