Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: yard_man who wrote (16294)	4/14/1998 10:51:00 AM
From: Tommaso	Read Replies (1) of 94695

Just to see if there should be anything to them, I have taken to checking the Marketgauge indicators every day, counting up those that are any way negative against the positive ones. Although I am heavily hedged (or have bets placed) for a market decline, I am waiting for some sort of technical confirmation that bear market is under way before I add anything else to my bearish position and certainly before I buy any puts. As one can see-- marketgauge.com these indicators are actually only barely bearish, which is unusual, and most of them are neutral. So they confirm nothing either way. My idea is to try to see them like the Wall Street Week "elves" of the 1970s, true technical indicators and not people (as they are now) and perhaps less subject to mob psychology. I think that back in 1975 the "elves" went to a plus six out of a possible ten--and also did pretty well at predicting downturns. Anyway, no more bearish speculation for me until I am a lot more confident that a bear has been positively identified.

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