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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 681.44+1.6%Nov 10 4:00 PM EST
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To: pater tenebrarum who wrote (33813)11/19/1999 11:51:00 PM
From: James F. Hopkins  Read Replies (3) of 99985
 
HB; The first publication I started reading when I started out to
trade stocks, was Value Line, and I still like it.
While I don't agree with all of it's picks it sure has a wealth
of information. Some of the ideas I developed about tracking indexes
came from my study of it. The Head/Tail I use to do, that turned
into the DVI ( Dollar Volume Index ) all came from stuff I
assimilated from Value Line.
-------------------
Now here is the rub, while I don't always agree with them I do
have a lot of respect for the rating method and their index.
quote.yahoo.com^VLIC&d=2ym

Take a good look at that and you will see that value stocks
peaked WAY back in April 98 and have not ever made a come back,
the NAZ DOW and S&P have been going up on fewer and fewer stocks
and the speculative effect in the tech sector..
So much so that there is no way even a 10th of them can ever
make enough money to justify their price. ( there isn't that much
money in the world ).

History will finally say the market peaked or crashed
on so and so, but if they look at Value Line they will see
except for the "hype stocks" it really peaked last year.
--------------------
You don't have a bull market when over 50% of the stocks are
below their 200 DMA..you have bubble..not unlike the great
tulip bubble, and the bubble is alive and well.
Don't get me wrong, I've been buying too..
I'v taken on 10 new positions in the last month , but
what I feel are very defensive positions.
And I'm hedged off with some shorts too.
Jim

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