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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: Brooks Jackson who wrote (10731)5/5/1998 5:19:00 PM
From: Bill Harmond  Read Replies (7) of 27307
 
>>reasons

I sold everything. 100% cash. Back to a measly 5% return.

I've been trying to get better about it, but I'm usually early. I did this in December, 1996, and August, 1997, and the tops in my groups came a month later each time. The trouble is you can never time the market perfectly, and it never follows a script. The oscillators hit a panic low last Monday, so this could simply be a retest. We'll see, but I doubt it enough to get liquid.

There are enough things bothering me to have made the decision:

Deteriorating MACD (possible second rally failure) for the S&P 100 & 500 Indices.

Transportation average broke its 50-day on April 27, rallied back up to it and looks like it's breaking down and away.

Utility average making lower highs and lows.

Asian markets weakening again.

Microsoft taking the Windows 98 issue to the streets.

Internet stocks resisting good news.

Quality stocks I want to own (but don't) are suddenly in decline for no fundamental reasons(one of the best sell indicators I've ever known.)

Financial stocks possibly rolling over.

US Dollar breaking down.

Finally, a short-term double-top in the major averages intra-day yesterday, confirmed today.
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