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Strategies & Market Trends : The Stock Market Bubble

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To: Terry Whitman who wrote (643)	6/15/1998 4:50:00 PM
From: R Stevens	Read Replies (1) of 3339

Here we go, Nasdaq making it's first significant close below 1750. Also everything's down today, even Cisco. I expected a Nasdaq bottom between 1675 and 1700, so I'm watching for a short term exhaustion day. I don't think this was it. In fact if you look at the chart here, it really looks like we still have another stage of this correction to go where the Nasdaq bounces around the mid 1600's. Weekly Nasdaq: cbs.marketwatch.com (Go to this page, use symbol $compq and 2 Years Weekly for the duration, then select "rate of change" and "macd" down below) Chart Notes: 1) Last bottoms came when rate of change hit below -100. We just got there. 2) The MACD cross over(red on top) is still just getting started and the last corrections took place when both lines were down around the 20's with green back on top. 3) Haven't even touched the 50 day moving average line yet. RS -------------------------------------------------------------------- Terry, the difference between Dell and (Amazon & AOL) is their sectors. The computer sector has been trashed. The internet sector has been bullishly speculative this year. This again illustrates that one must know the market and sector trends on a stock, because those trends can easily be as or more important than the individual fundalmentals of a stock. Web sights for Sector info: fast.quote.com cbs.marketwatch.com Both of these sights allow you to graph the industry sectors.

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