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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Boca_PETE who wrote (12016)2/18/2000 8:51:00 PM
From: Mr. BSL  Read Replies (1) of 15132
 
Thanks for the link Pete. BTW, today's sell off tossed out
the January 28 "benchmark" closing low of 1360. Now we try
and establish 1346 as the new benchmark. If today's sell
off is typical, then the selling pressure will resume on
the open Tuesday, followed by bargain hunters overcoming
that selling pressure and driving the S&P500 up for the
day. That's what happened the 5 times the index had
a 2% down day this year.

Next Day
date close % low close
----- ----- - --- -----
Jan 4 1399 -3.8% 1378 1402
Jan 24 1402 -2.7% 1389 1410
Jan 28 1360 -2.8% 1350 1395
Feb 9 1412 -2.1% 1406 1417
Feb 11 1387 -2.1% 1381 1390
Feb 18 1346 -3.0% ?? ??

If Tuesday's action follows suit, we can await the retest
of 1346 (probably in a week or so) to see if we may have
found a bottom. If Tuesday is a down day, it's back to
the drawing board.

FWIW, Dick
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