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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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Nov 10 4:00 PM EST

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To: Michael Watkins who wrote (40038)	2/12/2000 6:40:00 PM
From: Jerry Olson	Read Replies (1) of 99985

Mike just a quick note about the NYSE..as i head to the showers and out to din-din on my anniversary...man she put up with me for 33 years???? i wonder who's really crazy<g> while i know you're not aware of Point & Figure charting...i would like to point out here...that our main indicator the NYSEBP( New York Stock Exchange Bullish Percent Index) is all the stocks in that index...this charts those stocks on buy and sell signals...right now there are many more sells than buys... and we are heading down right now to very low levels...what this really means is this...as you eyeball a football field, we are nearing the 30 yard line down from the 50, heading toward "believe this or not" over SOLD territory...above the 50 toward the 70 or 80% area is overbought..like in the semis sector right now... i know i know, this seems ridiculous..but Mike i assure you it's not....we are in the throws of a potential historical event in NYSE Bullish Percent CHart..if we continue down from here....and...if when we selloff we dip below the 30% level..this imo, would be one hell of a buying opportunity of major proportions... while the general investing/trading public will panic sell into this event...we piffers will be buying this dip quitely and calmly...waiting for the enevitable exciting turn around coming on down the road... the gist of all this...is simply your time frame...and if/what your trying to accomplish here...if you're a long term investor then you will welcome this event, and gladly buy those loved stocks "ON SALE" once again...it's happened each and every year for a long long time.... and as for a Bear Market??? boy i cannot see that far ahead...i truly doubt well see that event in the next 1-2-3 years or so...remember here...we have had 4 rate hikes...if the economy slows too much, he'll have to cut rates again...and what with the wonderous world of productivity happening right before our eyes...i can't for the life of me see any bear market... anyway..it's fun exchanging ideas... have a nice weekend...i am heading to a very nice evening ahead... regards Jerry

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