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Pastimes : Home on the range where the buffalo roam

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To: Venkie who wrote (2591)	6/28/2001 2:43:56 PM
From: T L Comiskey	Read Replies (1) of 13815

Dee Haze <g> Clears...hopefully....... ....Arms index soared to 2.03, which is a very high level, and indicates the “give-up” mentality that is invading the market. I don’t do these kind of historical scans, but suspect that the last 16 days, in which 15 have produced an Arms index above 1.0 on 15 of them, ranks up there close to an historical high. At the very least, I would guess that these long sprees of panic selling pressure would turn out to be a great sign of a final cleansing out that leads to a significant upward move. In the same vein, despite the favorable advance/decline line on the NYSE yesterday, only 4 of the most active 15 stocks were up. So in concert with the very bullish action of the Smart Money Index, and the extremely bullish monetary composite, the odds favor very highly a move up in the weeks ahead. If you look internally in the market, you see the number of stocks making new highs continues to slowly creep up, and those making new lows continue to contract..... D.Hays

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