russell's top out parade...

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    Turning to my "Top-Out Parade -- the Dow, S&P, my PTI and my Most Active Stock Index all broke out to new highs. Russell, you may have to do an "about-face" and buy those Diamonds again -- but we do have a non-confirmation on the part of the Transports, and first I want to see how that works out. After all, the name of my site is Dow Theory Letters, and an integral part of Dow Theory is those confirmations or non-confirmations.

    Greenspan spoke today and according to the Green Man everything is dandy -- foreigners will not sell Treasury bonds, the dollar's fall is all right, declining productivity is all right, unemployment is no problem. No worries anywhere. How about the Greenie!!
 
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