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 (22195)	7/23/1998 10:39:00 PM
From: Monty Lenard	Read Replies (2) of 94695

I'm expecting a short-lived bounce tomorrow. How bout you? tippet, I agree. It was a little overdone IMHO. But, based on the info available at this point I think it will be short. I am not nimble enough the play this. The other possibility would be a huge spike down tomorrow and the dipsters win again. I have run so many scans in the last week or so that I could never begin to explain them all but I have a PICTURE in my mind and I for one will not buy into this. I have one more MA to cross on the McClellan Summation Index. If it does cross, then we will see this trend continue for a while. I believe Vitas follows this same indicator and would probably confirm that it was a very severe downturn. The only recent periods that are similar are 7/21/97; 10/14/97; 12/11/97; 1/8/98; & 4/2/98. Looking at the McClellan Summation Index as "coug" mentioned is this post (http://www.exchange2000.com/~wsapi/investor/reply-5273898), it looks even worse. As he suggested the A-D Volume tends to give a little quicker signal. I read Davids post concerning the 60's 30+% move up. I have no idea what happened then but I will wager that the valuations were no where near where they are today! I keep thinking of the game we played in school where everyone walked around a circle made up of chairs but there was always one chair less than players so when everyone scrambled for a chair to sit in, someone was the goat and left standing! I am NOT going to be the one left standing!!! :-)) Monty

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