In an appropriate follow-up to POMO activity, it seems down days on the DOW have mysteriously vanished. Too bad that gold and silver seem to be immune to this virus.

Cheers - VHF

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Down Days Disappear

B.I.G.

January 12, 2011

The Dow hasn't had a 1% down day since before Thanksgiving, and Monday's 0.32% pullback is the biggest decline the index has had since the start of December. It is nearly unprecedented to go this long without having a one-day decline of at least one-third of one percent. Over the last 50 years, we found just three other 30-trading day periods where the index had a maximum decline of just 0.33%. Back in April and May of 1965, the Dow went 30+ trading days without declining more than 0.15%. Later on that same year, the Dow had another 30-day period where its biggest down day was just 0.32%. And in 1963, the Dow's maximum one-day decline was just 0.33% over a 30-day period.

Can you really blame investors for being bullish when it's hard to remember what a down day feels like?