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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Allan Harris who wrote (7564)8/8/1999 8:06:00 AM
From: Justa Werkenstiff  Read Replies (3) of 15132
 
Allan: Re: "The Internet Sector's Bullish Percent Point and Figure chart is at 18, dropping from a high of 68 in July."

Good grief, is this a typical correction in DW P & F for the nets in previous market corrections? Would you say that you have evr seen such a sudden chage in PF for any sector?

Re: "A reversal up from here would provide a buying opportunity for
nimble traders or a lower risk buying opportunity for those seeking to initiate longer term positions."

I think it would be interesting to check the call activity in these stocks considering the recent price drop. With expiration a few weeks away, I would wonder what the activity on the call side overall. One must also consider the possibility that Thursday's rally was a short covering rally in these stocks at lest in part. Let's see what analysts come out of the woodwork this week to promote them. Where is Mary Meeker? One thing you have on your side is that both Cramer and Ralphie hate the nets now so you have some proven contrary indicators on your side.
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