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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Wren who wrote (8056)9/21/1998 12:49:00 PM
From: Kirk ©  Read Replies (2) of 42834
 
At the beginning of the 3rd hour Sunday, BB said that he believed that people should be fully invested in equities, and that if they still had cash, that right now is the best buying opportunity you will likely see in 1998.

Not to pull an Rill or Jerry.... but I heard that and thought at the time "Isn't that what he said when testing the lows at DJIA 8650 less his 3%?"

Excuse me, but I can't help but think all this TA stuff is a bunch of hogwash. It missed big time once, and then we just ignore that and go right on using it again. I remember Don Lane's note to me on just how accurate Bob's prediction was for hitting the bottom and testing the bottom...
Message 5521724
and
Message 5520227

This does not mean I don't agree with Bob's call - record highs by the end of 1999 (It is now a 1999 story)... Just I don't have wet dreams about testing lows on lower volume. The DJIA could go straight up and I am sure the TA crowd would figure out a reason for that also.

sorry if I ruffle any TA feathers.....but facts speak for themselves. I don't believe in TA and so kept some of my powder dry for bargains 10% below the DJIA 8650 level and still have just a tad of powder if needed...

regards
Kirk out
suite101.com
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