Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: William H Huebl who wrote (21596)	7/14/1998 7:24:00 PM
From: bobby beara	Read Replies (1) of 94695

Bill, Let the volitility games begin. I think the Vix bottom is a prelude to some market oscillations that will eventually end in a top within the next 1-4 weeks. We could have made a top today, coming within 5 points of a Dow double top and hitting inverted H&S projections on the OEX and SPX, the NDX popped, but closed lower than yesterday and tomorrow doesn't look promising. Since this bull run began in late 94, we have never had an a/d line divergence. (why didn't we know this very simple fact back last Summer!!! -aarrgh). This won't be your garden variety 6-10% correction. Margin use has just peaked to the 87 top level and the bulls are fully margined in the one decision stocks like MSFT, CSCO, GE, KO, Yahoo etc. etc. and are using t/a to time a top. That means when the summation index turns over all the t/a specialists will send the market a giant sucking sell signal. bwDik, bb

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