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Strategies & Market Trends : LastShadow's Position Trading

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To: Susan Saline who wrote (79)	8/30/1998 11:35:00 AM
From: Les H	Read Replies (1) of 43080

If you pull up the chart for the Utility Index, it broke to a new all-time high on Friday. I believe it's dominated by the Electric Utilities for which I have a composite symbol...the close, 17-, 50-, and 200-day moving averages converged recently then moved to new highs up along with new highs in on balance volume and Chaikin Money Flow. See chart below: quote.yahoo.com Interesting plays in banks may come soon with many banks down 30% or more. The regional bank closed-end funds are down 50%. First Financial Fund (FF), Southeastern Bank & Thrift (STBF), and John Hancock Bank & Thrift Opportunity (BTO). The latter two now have discount to NAV at -17.3% and -16.5%.

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