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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Allan Harris who wrote (13087)4/14/2000 8:50:00 PM
From: Mr. BSL  Read Replies (2) of 15132
 
S&P 500 down 8% YTD, NAZ down 18% YTD.
S&P 500 12% off it's high, NAZ 34% off its high.

Looks like we have some fear in the market. P/C .91 today. Big down day on big volume. Next step is to test the new benchmark lows - 1356 in the S&P and 3321 in the NAZ.

If this bottoming process follows form, the selling pressure will continue Monday morning, the bargain hunters will come in and we end up with an up day in both averages.

Then sometime soon we look for the averages to take out 1356 & 3321 on an intraday basis and then finish above them on lower volume. Then we start to look around the next corners - a rally day and a follow through day with a few leaders breaking out.

Of course, any close below today means we start the process all over again on the next sell off.

Patience, patience, patience !! Dick
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