Dorsey Wright & Associates. Point and Figure Message Board

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Non-Tech : Dorsey Wright & Associates. Point and Figure

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To: steve wong who wrote (5265)	1/22/2000 3:17:00 PM
From: Tommy Dorsey	Read Replies (2) of 9427

There have been many analysts calling for a top over the last 5 years. Every time there is a different reason. This year rates have skyrocketed as suggested they would by the Dow JOnes 20 bond average Feb. 1999 and stocks went up. This confounded most of the fundo's as this is a de-coupling of rates and stocks. The market will do what it will do for what ever reasons it chooses. This is why the Bullish Percents are without a doubt the best market indicators around. They don't mix, rate inversion, oil, PE's, valuation, earnings and all the other things that analysts have said should stop the bull. When the bull is to be stopped we will now it or at least we will know to take off the offensive team and replace it with the defensive team. The market will then do what it will for its own reasons and again confound most analysts on wall street. There is always that old "if I only knew that I wouldn't have been bearish". The Bullish Percents are soulless barometers that show the ebbs and flows of supply & demand. If Zweig is right and he is a brilliant man, we too will know it as the bullish percents will not be the last to find out. T

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