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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (36099)	11/13/1998 10:16:00 AM
From: Tommaso	Read Replies (1) of 132070

Same pattern developing as yesterday and as in the last decline--Dow stocks mostly stable or up a little, and NASDQ dropping. "Shift to quality"--i.e. from P/E 75 to P/E 25. The roller-coaster is creeping over the next crest. Almost all the short-term momentum indicators in Marketgauge are negative, for what that's worth (which is not much): marketgauge.com I am still waiting for the moment when the negative indicators outnumber the positive ones by a margin of about 18 (out of 37), remembering fondly the accuracy of the old-fashioned technical indicators (not people) that were the original "elves" on Wall Street Week. Whenever they went to a margin of 5 (out of ten) they were quite reliable.

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