Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: RealMuLan who wrote (36210)	1/9/1999 11:04:00 AM
From: bobby beara	Read Replies (1) of 94695

>>>Extreme volume which isn't matched by equally impressive price action often implies "distribution" before a fall. For every eager buyer there is an equally eager seller, thus the market goes up--but not to the extent that it should have done given the huge volume posted.<<<< Yiwu, I believe the blow-off top in the nasdaq, the Dow is a laggard index and thats why you are not seeing blow-off type volume there - also notice that the Dow is more interest rate sensitive and this new high was not confirmed by bellweather GE. I can make a case for a nicely completed 5 wave elliot count on the Dow from the 12/14 low. and BERNEY . . Merck is flying a bear pennant and stopped right at the top of the channel on close Friday, I went short at the end of the day Friday. bb

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