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Strategies & Market Trends : Point and Figure Charting

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To: wizzards wine who wrote (22844)8/3/1999 5:15:00 PM
From: James Strauss  Read Replies (1) of 34808
 
Cash Is King...

Preston:

I'm also heavily in cash... I'm watching the 5 day and 13 day MA's on the major indexes... Right now the the 5 day MA is below the 13 day MA... When that flips, and the A/D line improves, and the New Lows get back down to the 40 or less level it will be time to go long again... Ahead of us are probably 2 more 1/4 point rate hikes... All this has to resolve before the market can look ahead to probable good 3rd Qtr earnings...

Jim
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