The new high quote of mine, as well as the 18 month theory are drawn from own humble opinion. (However, I used Ney/Specialist timing method to draw such assumptions) Ney, himself, just plainly said that he is expecting a rally. He adviced people to purchase additional shares of MWD, MER, DJ, SBUX, ASND, CUC, and FDC in the last 2 months (only ASND and SBUX are his new picks).
Here is a quote from his June 13, 1997 newsletter, which showed his knowledge of the system and timing method:
"My proprietary charting angles are now forecasting an advance to 8500 in 1997 or the first quarter of 1998. While optimism is an attitude that has shaped the course of my life, I must confess, I expected the sharp advance in the Dow to occur at year-end (for tax purposes) not at mid-year. I also expected a strong pullback on heavy volume before the recent advance." That was all his own words, which was realized in the October event.
The importance of his newsletter, update, stock picks are not as important as using them to educate myself on how to time the market. (They are very entertaining and fresh as well).
BTW, he is very bullish and predict a bull market until year 2000, with occasional pullbacks and public worries, of course.
The news, hypes or worries, upgrade/downgrade, interest rates, growth rate...are all albli of the insiders' will to advance or to drop the stock. |
