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Strategies & Market Trends : Waiting for the big Kahuna

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To: James F. Hopkins who wrote (22774)	7/30/1998 8:53:00 PM
From: Monty Lenard	Read Replies (1) of 94695

Jim, you remember the 200 Day Moving Average scans I ran and we discussed a while back? There was an article in Business Week Online today concerning that very thing. The author stated that something like 67% of the NYSE stock were below their 200 DMA. This is within a couple of %age points of what my scans show. Makes me feel a little more confident in the validity of my information plus I thought it was interesting that he commented on the very thing we have been testing. Anyway, todays scans I have been running on Adv Dec Issues sure made a turnaround. In fact, the turnaround was so drastic that it is almost suspicious. The issues gaining on the 200 DMA was not so impressive but it takes a little longer for that indicator to react. Today could very well be a reaction to the oversold condition we were in. We saw a 90 point gain on 7/27 with a reversal the next day so who knows? The one thing that makes me wonder though is the Adv vs Dec Issues and the Adv vs Dec Volume. Monty

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