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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (1809)	5/4/2001 12:17:22 AM
From: Perspective	Read Replies (2) of 209892

We'll have to see on that score. I like the Ameritrader buy-the-dip mentality. Says things are back to normal. But, the P/C rose above 0.7 by the close today, so that wrong-way crowd is not as optimistic as I'd hoped. It's OK though; it really only works at extremes. Showings over 0.9 are yellow flags; peaks over 1.0 indicate a significant bottom is at hand. I've been kicking myself for weeks that I hadn't noticed the two spikes in P/C over 1.0 just before the recent bottom. I've never seen that indicator fail. Ever. I think Smelly will show us a lot going ahead. It is the epitome of an index running on fumes. Particularly MU - did you see that I posted the recent price on PC133 DRAM? It's fallen to $0.15/meg! BC

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