Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Roger A. Babb who wrote (6170)	10/28/1997 9:43:00 AM
From: Jon Tara	Read Replies (1) of 9285

Roger, I beleive we may break through the regression channel bottoms on the indices today. (Think we already have - the only question now is do we close below them.) I will be looking for a bounce up to the channel bottoms from somewhere below here. This will be a reflex rally, which could take several months to put in. We could have some more "good times" for a while before hitting bottom (same or lower) again and before a real recovery. If we break through the channel bottoms today, I will consider this a crash/bear market. Update: oops, not quite! The DJ30 is now sitting right on the channel bottom, at 7050. However, all of the stocks are not yet open. The ANSDAQ Composite is still abovbe the channel bottom, which is at 1450.

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