Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (2612)	8/30/1998 2:34:00 PM
From: James Strauss	Read Replies (1) of 13094

Where Do We Go From Here? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ With very few new 13's, the implication for market direction is down... With market leaders like AMZN and AOL with astronomical P/E's beginning to falter, it marks the final phase of the Correction/BEAR that culminates in the dumping of former Blue Chip market leaders... This seems to be happening now... There will be interim rallies, but the overall market direction is down... Russia and Japan loom in the background with their economic problems that are currently taking their psychological toll on world markets... The 40 to 50% hits to many of the Russell 2000 companies was the first shoe to drop... The current faltering of some market leaders is the second shoe to drop... Exacerbating the current market climate are the repercussions of the Russian and Japanese economic woes... Japan is the real concern here because it is one of the world's leading economies... Russia has a very tiny economy with Nuclear Teeth... So, we've got quite a mix of things to provide uncertainty to our markets... Strategy... Sell into market strength... Buy S&P puts during rallies... Wait for market breadth (Advance/Decines and New Highs/New Lows) to improve... When new lows start falling below 50 and the S&P is above its 13 day MA we might have seen the bottom... Keep plenty of cash on hand... Jim

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