Bob Brinker: Market Savant & Radio Host Message Board

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

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To: Honey_Bee who wrote (39575)	10/16/2008 8:17:36 AM
From: Kirk ©	Read Replies (6) of 42834

"Nobody saw it coming" is the latest falsehood a few SOBs (supports of Brinker) have posted. Dan Sullivan is one of the more popular chartists. Brimelow wrote about him this AM: The Chartist's Dan Sullivan is a mere stripling of 74, but he's grimly calm too. Sullivan is a veteran with a strong longer-term record. (See March 20 column) His trademark relative-strength method notoriously works best in bull markets, but Sullivan has managed to be bearish most of this year. Still, he thinks he may see a bottom. He wrote in a hotline Wednesday night: "We remain in the bearish camp and continue to advise a 100% position in the safety of money-market funds. This has been our view since our models flashed a major sell signal back on Jan. 16, 2008. "We indicated on yesterday's hotline that we expected last Friday's intraday lows to hold up over the next three months and as an outside possibility they might represent the extreme lows of the entire bear market. This is based on what we felt was the outright capitulation during the opening minutes of trading last Friday, October 10th. The areas of support are the Dow - 7,882, S&P 500 - 839, Nasdaq - 1,542 and the Russell 2000 - 468. Despite today's carnage we expect these support areas to hold." Given I did a lot of buying last week with a big buy of SPY that is still in the green and Brinker's favorite UTEK I bought under $10 (now $12+), I HOPE Sullivan is right... but I still look at timing as little more than educated guessing. marketwatch.com{A9D7111F-C4CA-4D61-A628-8FD081144886}&siteid=nbkh

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