Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: yard_man who wrote (28401)	9/20/1998 3:47:00 PM
From: Tommaso	Read Replies (1) of 94695

"According to Fossback the biggest bullish indicator is buying by members of the NYSE. If they are buying (net) it is very bullish. I don't know how one find out about this one." Barron's, WSJ (Monday, I think) and NY Time I think provide member buying figures along with specialists. Also, it's on marketgauge. marketgauge.com Or rather there, they work out a rate of change of the member and specialists buy/sell. I used to calculate it each week for myself from Barron's, but haven't lately. I think the general insider buying represents the same unwarranted optimism behind buybacks by companies of their own high-P/E stock. The net selling in mutual funds and even a decline in money-market balances (where is THAT money going to?) seem to me to suggest a lack of support for any dramatic upward move. I think the next big washout could start any time. There should be some tax-loss selling soon. But I expect the really dramatic tax-loss selling a year from now.

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