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 (23619)	8/7/1998 3:55:00 PM
From: jef saunders	Read Replies (2) of 94695

jerry favors was just on cnbc. he called for support around 8200 (8187 +/- 123 points), next stop 7300 later this fall. he showed his quarterly indicator is now bearish, and for it to turn postitive again, the dow would have to break 9400. he showed charts from '29, '37, and '61 where the quarterly indicator had turned bearish and then there massive drops 6 months later. he said the last few years the indicator has not worked, that it had turned bearish, and then the market had rallied enough for it to turn postitive again. (this time, 9400 is the rally point). he's looking to short the market on any significant rally, but he says we haven't had one yet, where it's up for a day and then disappears, like today. jef

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