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To: re3 who wrote (65874)	10/1/1999 7:09:00 PM
From: pater tenebrarum	Read Replies (1) of 86076

Ike, Laszlo B. works with money flows only and calls TA 'descriptive with no predictive value'. while his analysis is quite meticulous, it doesn't take into account something i have often noticed: stocks that show great flows, while performing quite nicely for a while, become crowded trades at some point...all it takes then is some piece of bad news to unleash an avalanche of selling. prime example: SCH. i watched the flows on SCH for a long time and was in it quite a few times based thereon. well, look what happened to it. a debacle, if it is to come, will NOT be preannounced by money flows. it will happen due to things the flows don't tell you, like collapsing bonds and a wilting buck. however, the bears better be careful here: the indices show an indecision pattern. there is no telling yet which way it will break, but it will break soon. if it breaks upward, look for a mega rally (blow-off) to new highs. if it breaks the other way, crashola.

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