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Strategies & Market Trends : The Stock Market Bubble

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To: Les H who wrote (1078)	8/10/1998 4:43:00 PM
From: Terry Whitman	Read Replies (3) of 3339

Hello Les and fellow bubble-heads, Trying to make some sense out of the rally last week. FWIW, here's my observations: 1) Rally started broad based. RUT and SOX showed life for first time in several weeks(Dead Cat bounce?). A/D and NH/NL showed sharp improvements. 2) Rally faltered today for all but the large-cap darlings and some speculative stocks. A/D and NH/NL returned to bearish trend. 3) If last tuesday was bottom- we never made it back to the 200 day MA on the NAZ for the 2nd consecutive bottom. 4) July 31 NAZ peak was only 3 months after previous peak. Prior to this latest 3 month cycle, peaks were 7, 8, and 8 months apart. This indicates increasing volatility- The cycle can't shorten much more... 5) Rash of upgrades out this morning- Brokers doing their best to get public to "buy the dips". Regards, TW

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