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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Al Serrao who wrote (7096)4/5/2000 11:47:00 AM
From: Mr. BSL   of 9427
 
Hi Al. , looks like we both read the same move in the BPOTC. A head fake? Seems like it.

The light dawns on marblehead (mine!). I went bullish the week before (3/21) on the BPNYSE reversal. The BPOTC (3/28)was just icing on the cake for me. Here is where I screwed up - I chart the bell curve weekly from the sector numbers on the front page. On 3/7, several Tech sectors were 66 and above. Several "old economy" sectors were below 30%. The bell curve looked like the red sea parting in the middle. On 3/14, the divergence started to improve with old stuff turning to column of X's and tech stuff starting to drop. On 3/21, this accelerated with the tech stuff getting slammed. I looked at this as healthy or a normalization of the bell curve. With the BPNYSE turning up, I just went bullish. I should have considered the Tech stuff by themselves. These sectors were simply dropping from very high levels and that should have been warning enough. Now they are oversold and it may take awhile for a bottom to form. In the meantime, I'll just trade my way out of some of my techs on good rallies. I missed the obvious sell signal but won't sell out at the bottom. More like selling some PLXS and buying some GPS. You get the idea. Good luck, Dick
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