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Strategies & Market Trends : Waiting for the big Kahuna
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To: James F. Hopkins who wrote (22783)7/30/1998 10:13:00 PM
From: set  Read Replies (2) of 94695
 
James - concerning that small cap rally you're looking
for, I think if it happens it'll be just as narrow
as the big cap rally is.

every couple weeks I look through a chart book just
to scope out situations of interest and because
that's my way of getting the big picture.

In january the charts were stunning, fantastic,
beautiful. The coming rally was so obvious you
had to be an utter idiot to miss it. Same was
true last summer.

Right now when I look - page after page, it's a
horror show. There's very little meaningful
accumulation going on. It' just not the same.

A month or two of trading might change that
but I don't see it.

This is a good time for people who really know
what they're doing to look at stocks like KMAG
and PMCO on FA alone. I'm not recommending these
stocks, only giving a couple examples of situations
I'm aware of that could be timely long term buys.

But the mo mo guys have painted themselves into
such a corner that there's really no way out.

BTW there's a group of stocks out there whose charts
more or less resemble IBM right now. these are
in run mode, having gapped up a week or two ago
and trying to resume that now. But without a
broader rally I don't have a screamin lot of faith
in those either. These are like VRTS, PLAT, SEPR
and such.

but in sum, I don't see the setup for a small cap
rally.

Shahar
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