Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Jerry Olson who wrote (38486)	3/16/1999 7:51:00 AM
From: Terry Whitman	Read Replies (1) of 94695

>> from the OCT Double Bottom Low in 98 at 7400, we're up 2500 points << Now take those rose colored glasses off, and pull that clothespin off your nose. This market smells like a pig farm on a summer day. Any real technician knows that you measure returns peak to peak or trough to trough- not trough to peak. Peak to peak the DJI has gained about 5% since last July, no better than an insured CD. The Nazcrap index has done better, but on the backs of a Very narrow number of stocks. If you picked the right ones, great job- but I'm not good enough to beat the overwhelming odds. We've got a new high in the SPX on the backs of 63 stocks out of 3000. 63 New Highs/77 New lows. You've got 35% of the NYSE stocks above the 200 day MA. Picking a NYSE stock at random- you are twice as likely to get a loser as a winner. Good luck with your Tulips- I'm gonna concentrate on finding losers (It will be twice as easy).<g> Regards, TW

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