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Strategies & Market Trends : Waiting for the big Kahuna
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To: bobby beara who wrote (18268)5/9/1998 7:40:00 PM
From: edward miller  Read Replies (1) of 94695
 
Bobby,

I am watching the McClellan Oscillator and have been aware of
its behavior for many years. (At the moment I am fully invested.)

However, I think it is worth pointing out that the buy spike may
not be as short as you seen to think. The market could reverse
on Monday or Tuesday to retest the recent lows, as it often does,
and still form an oscillator buy spike. There are no guarantees
that we will have "Blue Skies" this week. It could be next week.

Also (I almost don't want to say it) there is a remote possibility
that the market could sell off to a lower low on the oscillator,
which is rare. If this happens, the price action required to do
that would surely signal the beginning of a serious decline. I
don't think that will be the case right now.

Nothing in the market is easy.

Ed Miller
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