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Strategies & Market Trends : Waiting for the big Kahuna
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To: Byram who wrote (17596)4/29/1998 3:13:00 PM
From: James F. Hopkins  Read Replies (1) of 94695
 
( VBG )!!!! that grass can't grow very much without roots,
It's the roots you need to look at, Yesterday the Super Caps
managed to make a high of 382..so far today the MEGA HIGH is 379.73
only if todays high exceeds yesterdays MEGA high will I even start
to consider a trend change..If the high stays lower than yesterdays
high , then the root system is to weak.
The Major Index I look at is not one any of the News channels carry,
or that you hear much about, after all it's only the 15 biggest
Stocks in the world. The Godzila of all indexes <G> with more
market cap than every thing put together on the naz..while it
has it's short commings as all indexes do..It's this monster
that I compare the more popular indexes to..and so far it has
gotten up off the floor..but it's still on it's knees.
If it fails to get above yesterdays high before it starts back
down..then I expect tommorrow or the next day it will set a
new low. It has gone up nicly today but at 3pm it lost momentum
and it's got to get up over 2pts more or todays high will be lower
than yesterdays. We will see what the balance of the day brings,
maybe she will make it in a final kick at the end of the day.
If so then I might revise the set condition on the down trend.
Jim
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