Jerry Favours was on CNBC before the close. The following posting on the DELL thread does not do full justice to the precocity of Favour's analysis. In addition to his committing himself to a market bottom sometime next week, which the poster refers to, he also said that the whole thing is off if the DOW falls "even one point" below some support figure, or other. If that happened, EVEN ONE POINT, MIND YOU, then the market would tank. So now you KNOW!
While I'm on the subject of TA, Merrill Lynch's senior TA guy, said that yesterday's fall was the beginning of something very big, namely, that the market was on the way to tanking to the lows of last April i.e. another 1,000 points. This will be very good for the market (really!) and will signal the start of a major broadly based rally (should hope so).
The senior analyst at JP Morgan said that the market was due for a 15% correction.
To: Mohan Marette (95322 )
From: GRANOLA Friday, Feb 5 1999 4:12PM ET
Reply # of 95345
MO, DONNIE...Jerry Favors was just interviewed 15 mins ago on CNBC and he talked about how they will be loading up on equities next week because we will see a bottom early in the week and then a big rally -NOW I HAVE BEEN AMUSED!!! Well, gee, do you suppose Jer makes his $$$ preannouncing his moves to the entire world?? Or rather do you suppose he did his buying right before he went on the air (VBG!)? VERY INTERESTING...get ready for the RALLY!! :) Dell WILL lead! GR
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