Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Paul Shread who wrote (34817)	12/2/1998 4:37:00 PM
From: donald sew	Read Replies (2) of 94695

Paul, Heard today on CNBC that of the 30 DOW stocks only 6 have set new highs. The DOW setting a slightly NEW HIGH is a bullish signal when it happened. Now there needs to be follow-thru. It would be hard for me to imagine for the DOW to get alot higher to the 10,000 range as many analyst are now calling for, on the back of only 6 stocks, especially since the DOW is not a weighted index. The key is follow-thru, and I realise that it will take some time for the other DOW issues and the TRANSPORTs to catch up; however in such a volitile/dynamic/impatient market Im not sure that the market is willing to wait too long. Wonder if anyone did a study on the time permitted for for one part of the DOW THEORY to catch up to the other. My gut feeling is 2 months for once of the DOW sectors to catch up to the other, so in this case that would put it at the end of JAN/early FEB. Seeya

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