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Strategies & Market Trends : Point and Figure Charting

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To: Giordano Bruno who wrote (6480)	8/29/1998 11:08:00 AM
From: james ball	Read Replies (3) of 34811

jj, everyone is focusing on the Dow Jones and that is meaningless. We have already had a bear market in most stocks and a total washout in many. In 1982 the Dow JOnes continued to make new lows in the summer and the small cap issues had already bottomed out and were up 70% in some cases before the Dow bottomed. Those waiting for a bottom in the Dow Jones might just miss a fantastic run in the small issues. Most people and these chartists in Barrons focus on the Dow JOnes and they must might miss the whole boat. Abbey Cohen suggests 9300 by year end and some of those guys suggest 6000. Don't sweat the predictions and simply play the hand you have right. You are the cabboose of the train. IF it goes up hill, you go up hill. IF it goes down hill you go down hill. I don't remember seeing any of these guys in Barrons four months ago saying to get out. Now we're down 1200 points everone has a handle on it. Put the blinders on and dance with the one what brung ua. A.W. Cohen, Blumenthal and the boys. Most of these guys will change to bullish when the market is up 1200 points from here. Stick with the sports page. Tom D.

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