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Strategies & Market Trends : The Stock Market Bubble

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To: Terry Whitman who wrote (1081)	8/10/1998 6:31:00 PM
From: bobby beara	Read Replies (1) of 3339

TW, this bubble head likes your 'sense' on this rally. Just another 'suckers' rally in a bear market IMHO. Trendlines, broken support, weak internals and sentiment indicators still showing we haven't hit a capitulation bottom. Notice weakness in the Dow on this rally while the "new era" techs and internets rallied pretty good. We remain below the closing June closing lows on the NYSE and the DOW. Greater fools buying the semiconductors because this is just the bottom on another cycle and ignoring that this time is different and the "normal" cycle has been disrupted by Asian contagion. The ship is sinking the Irish in the boiler room (RUT - Asia - Russia, etc.) drown first and the Elite (OEX) is last to leave the ship. On an elliot basis we have just completed wave 4 or are in the process and wave 5 will test or take out last weeks lows, bank index tested them today. bb

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