Hi Bill; Do you remember
To: William H Hueb (who wrote...)
From: James F. Hopkins
Sunday, Mar 1 1998 11:53AM EST
Bill; I see resistance forming at 8600 on the Dow, untill she
breaks that on strong volume I'm not going to change my mind,
I think the 5% correction you "were" talking about is a lot
closer to becoming a reality than it was.
And now you going bullish also gives me pause to
consider , rotation rotation..Monday Tech will go up, maybe
Transports..but the DJI and S&P won't.
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Well the Transports did go up some, but the Tech didn't
and I got the DJI and S&P right also. 3 0f 4
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Now for the worry part I been telling you about,
You know about my Weighted MEGA/TAIL DOW
MEGA
^NYA 3:40PM 544.24 -0.02 0.00% N/A - - 0.00% NYSE COMPOSITE
^DJI 3:40PM 8545.97 +0.25 0.00% N/A - - 0.00% DJ INDUSTRIAL
GE 3:20PM 76 7/16 -1 5/16 -1.69% 4,795,000 58 -$76.12 -1.69% GENERAL ELEC CO
KO 3:20PM 68 1/8 -1/2 -0.73% 2,293,700 39 -$19.50 -0.73% COCA COLA CO
XON 3:20PM 63 3/4 0 0.00% 2,080,700 35 $0.00 0.00% EXXON CP
MRK 3:20PM 127 1/4 -5/16 -0.24% 1,435,700 30 -$9.38 -0.24% MERCK & CO
MO 3:20PM 43 1/16 -7/16 -1.01% 5,007,000 27 -$11.81 -1.01% PHILIP MORRIS
PG 3:20PM 83 -1 7/8 -2.21% 1,530,900 26 -$48.75 -2.21% PROCTER & GAMBLE
T 3:20PM 60 7/8 -1/8 -0.20% 4,076,500 23 -$2.88 -0.20% AT & T
IBM 3:20PM 102 1/4 -2 3/16 -2.09% 2,987,600 24 -$52.50 -2.09% INTL BUS MACHINE
JNJ 3:20PM 74 15/16 -7/16 -0.58% 1,361,900 21 -$9.19 -0.58% JOHNSON&JOHNSON
WMT 3:20PM 47 1/16 +3/4 +1.62% 3,019,600 21 $15.75 +1.62% WAL-MART STORES
DOWN .93%
-$214.38-0.93%
Walmart the only one up, BUT look at the volume on GE/MO/& T !
the big caps are selling off. LOOK GOOD </b >
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TAIL
^DJI 3:47PM 8541.24 -4.48 -0.05% N/A - - -0.05% DJ INDUSTRIAL
^SPX 3:47PM 1047.16 -2.18 -0.21% N/A - - -0.21% S&P 500 INDEX
DIS 3:27PM 110 1/16 -1 7/8 -1.68% 1,057,200 16 -$30.00 -1.68% WALT DISNEY CO
DD 3:27PM 61 7/8 +9/16 +0.92% 1,554,000 15 $8.44 +0.92% DU PONT CO
HWP 3:27PM 65 3/8 -1 5/8 -2.43% 2,598,500 16 -$26.00 -2.43% HEWLETT-PACKARD
TRV 3:27PM 54 13/16 -13/16 -1.46% 1,657,400 11 -$8.94 -1.46% TRAVELERS GRP
CHV 3:27PM 82 +1 1/8 +1.39% 1,425,500 12 $13.50 +1.39% CHEVRON CORP
BA 3:27PM 52 7/8 -1 3/8 -2.53% 3,720,600 11 -$15.12 -2.53% BOEING CO
GM 3:27PM 70 +1 1/16 +1.54% 2,618,100 10 $10.62 +1.54% GENERAL MOTORS
AXP 3:27PM 91 9/16 +1 1/2 +1.67% 1,894,300 9 $13.50 +1.67% AMER EXPRESS CO
MMM 3:27PM 88 1/2 +3 3/16 +3.74% 1,450,800 8 $25.50 +3.74% MINNESOTA MINING
MCD 3:27PM 53 9/16 -1 -1.83% 1,670,400 8 -$8.00 -1.83% MCDONALDS CORP
ALD 3:26PM 42 3/8 -3/16 -0.44% 727,800 5 -$0.94 -0.44% ALLIEDSIGNAL
JPM 3:27PM 122 +2 1/2 +2.09% 912,400 5 $12.50 +2.09% J P MORGAN & CO
EK 3:27PM 67 5/16 +1 11/16 +2.57% 1,470,800 5 $8.44 +2.57% EASTMAN KODAK
CAT 3:26PM 53 3/4 -13/16 -1.49% 665,600 4 -$3.25 -1.49% CATERPILLAR INC
S 3:26PM 54 3/16 +1 3/16 +2.24% 1,327,400 4 $4.75 +2.24% SEARS ROEBUCK
UTX 3:27PM 90 1/2 +1 3/16 +1.33% 926,200 4 $4.75 +1.33% UNITED TECH CP
IP 3:27PM 47 15/16 +1 5/16 +2.82% 1,130,400 3 $3.94 +2.82% INTL PAPER CO
AA 3:27PM 71 5/16 -2 1/16 -2.81% 606,800 3 -$6.19 -2.81% ALUM CO OF AMER
GT 3:27PM 68 3/8 -7/8 -1.26% 658,100 2 -$1.75 -1.26% GOODYEAR TIRE
UK 3:27PM 47 1/4 +13/16 +1.75% 446,200 1 $0.81 +1.75% UNION CARBIDE CP
While the tail is up .06%
It supports the index, but as you can see though the issues
traded are selling off faster than the index drops. Mainly due
to the MEGA caps , and here again look at volume
as the really big volume in the tail belongs to the decliners..
HWP & BA..
$6.56+0.06%
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Now you see why I said resitance at 8600,
were you were telling me no resistance to 9000,
we will see about taht.
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From this it looks like the correction has already begun,
tomorrow will confirm it..if that's not to late.
Jim
PS
intrest rates up/ dollar down.
I may have come out a tad to soon last week and missed some
up side, but I bet by close tomorrow I'm ahead..
sold my CRUS today too..
but chanced on a little penny CMYN and grabed it @1/4
hell it's been squshed but has $1.09 in cash ;-)
Still got my PCU too..
other than taht I'm prepared to short, with the trigger cocked.
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