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Non-Tech : Dorsey Wright & Associates. Point and Figure
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To: Jerry Olson who wrote (5824)2/2/2000 12:15:00 PM
From: Ms. X  Read Replies (1) of 9427
 
********Important Market Update*********

Well, as you most probably know, the NYSE BP done threw in the towel this morning. She's had enough. Can't blame her, she held in tough during all of this volatility but she must see something coming down the pike that we need to be alerted to.

We are still in the middle territory and this reversal down doesn't call for selling the children and building bunkers -just be careful, very careful. No matter what the Dow or the Nasdaq are showing, more sell signals than buy signals are being generated and that does not bode well for the market in general.

We've seen sectors like the semi's come down from their extreme high perches and other sectors start to weaken. The NYSE BP comes after these events (that is what the short term indicators are for) but it never comes "after" the market slumps - always before. I say slump because at this level there isn't a huge downside. However, stocks can have a very difficult time here.

The DJBB is moving up still and we will keep an eye on that indicator to guide us with interest rates. If the interest rates aren't a problem the NYSE BP is seeing something else.

Seems this time of year we get a little break in the market so look for pullback before entering positions. You don't have to sell everything just be aware that the risk is there. If you have stocks that have been underperforming you may want to re-evaluate why you are holding them. If you have stocks that are for trade and have made good profits re-evaluate your plan for taking those profits, don't let them slip away. If you want to enter stocks let them come back to you.

Everyone who is on the email alert with DWA should have received this message this morning. If you did not please contact jay or justin by email to make sure they have your correct email address. I have found out that some of the servers and ISP's block the emails because they flag them as spam or advertisements. If DWA has your correct email address this may be what is happening.

Here is the message:

With the fed meeting today we wanted to inform you early that the major market indicators moved to defense today. This suggests we think more in relation to defense than offense when evaluating your portfolio. We can always make up lost opportunity. It is much harder to make up lost money. Defense can mean many things to many investors. Some prefer to hedge and others prefer simply go to into a heightened state of readiness. Because the indicators went to defense does not mean the Dow Jones or S&P 500 cannot go up. Lets say IBM gets bought out today at $400. The Dow Jones would be up big time but that would have nothing to do with the real market. We are concerned with the real market. The OTC Bullish Percent declined 14% in one week marking the largest fall we have ever seen.
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