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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Kirk © who wrote (9567)7/19/2000 5:25:45 PM
From: Mr. BSL  Read Replies (2) of 42834
 
Nice link on market action. Most people get the accumulation / distribution points of articles like that but forget the part about how the market leaders are doing IMO. No distribution today because today's vol on NAZ and NYSE less than yesterdays. Also, I've noticed that the new leaders (mid-caps) are acting very well. Take PCCC and APH for example. Both posted better than expected earnings, sold off initially (nervous nellies) and then staged strong moves up (institutional bucks).

Human nature is to fight the last war. So many people say July 20 1998 and July 20 1999 were tops so July 20 2000 will be one too. This July looks more like 1988 and 1994 - strong steady advances with pull backs on lighter volume.

I'm not saying the market will not tank in the near future. Just saying that the institutions haven't decided to sell yet.

Peace and Profits, Dick
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