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Technology Stocks : Seagate Technology
STX 258.21-1.7%Nov 14 4:00 PM EST
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To: hcirteg who wrote (7082)3/13/1999 11:39:00 AM
From: William Epstein   of 7841
 
Gary;

It can worry you quite a bit but you must look at it in context. Not by itself. If you go the Decision Point.com and check their charts for the NASDAQ and the NY Composite for the A/D volume charts(Joe Granville) you see that we are nowhere near Oct.(much higher) Also check the McClellan Summation Index for both and you see the market bottomed and it just beginning to turn up. Also check the A/D line again against the NY Composite and you see that it is about the same level as Sept-Oct. but it too is beginning to turn up. The rally hasn't really started yet but the corner has been turned. Another month and the rally will be in full swing. These charts have to be looked at carefully and checked. One indicator must be checked against all the others. Never trust just one indicator because it can distort the real picture. No one indicator is always accurate.

Now if that little hook on the end of the Summation indexes and the A/D line wasn't there then I might become very worried. I agree that the DOW distorts everything. It should be ignored except that everyone else watches it. So, it can't be ignored. If there is something important next week I will post a personal alert to you. If you can go up on the net once a day, in the evening, look for it. If not I will not post. Try to have some fun. I'm told Amsterdam is very pretty
Bill
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