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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (12501)	3/12/2001 9:21:32 PM
From: Crossy	Read Replies (1) of 30051

Zeev, thx for your kudos and also for correcting my getting the NAZ chart wrong. You are of course right with the last 2 days .. 2 black lines. Answer for this mismatch: my data quote-feed had a glitch. I propped up BIGCHART and that service confirmed your observations. Have to re-analyze the Naz Composite.. Back you up on the DOW - I would not like to hold bigcap defensive companies now. The growing disparity between nominal interest (10 Bill returns) and the performance of almost all stock indices looks like a possible significant divergence coming up. Normally they should be invesrsely correlated. This time it's the opposite... Hmmm... As for NEWP, well the gravestone doji can be a bottom reversal indicator, too. Especially if it's gapping away downside and then upside again ("Morning doji star") and if there is confluence from indicators like RSI or Williams R% or stochastics (looks like being the case here) My reading has RSI around 30 (neutral to bullish), Williams at 3 (totally oversold) and stochastics also in oversold teritorry - looks like a bottom to me.. Company more cash than assets ? Well normally that company should have shouldered big amount of debts or if book value is negative due to another reason.. Did I get anything wrong ?? Besides this, I don't get to the point of your riddle.. Sorry ! rgrds CROSSY

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