Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.690

-0.3%

3:59 PM EST

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To: CuttotheCore who wrote (7773)	9/10/1998 4:54:00 PM
From: Steve Fancy	Read Replies (2) of 22640

Stx, clarification on the 55 day theory. Apparently this phenomena has occurred in 1929, 73, 74 and 87 where the market sold off, retested an previous low or set a new low, and bottomed 55 days after the dow set a new high. Again, this was the 55th day since 9300. Apparently the old timers like Art Cashin were "disappointed they weren't throwing them out the window" at the end of today. I'm hoping tomorrow may be it, but with the ORCL and INTC good news, tough call. The confusion that's sure to result from the Clinton papers hitting the net at 2:00 is another varible that's tough to pin down. Personally, lets take 'er down to 7350 tomorrow and be done with it. Set 'er up for a huge rally on Monday. I'm a big TBR buyer at 45-46, or dow below 7400. sf

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