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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: bill meehan who wrote (33838)4/15/1999 3:43:00 PM
From: John Pitera  Read Replies (2) of 86076
 
I wanted to mention that the Morgan Stanley cyclical index CYC.x
has moved to the 570 level that was the previous all time high
set back in april of 1998. This is an area that should provide resistance, and some
E-wavers would consider it a completed "B" wave.

Clearly the cyclicals have run-up so much they are vulnerable to a pullback at any point.
Several of these companies say that fundamentally business is not looking that much
better.

Anyway you may want to take a look this.

It is important to note that in an idealized Bull market the cyclical issues
advance at the end of the cycle to cap off the Bull Run

so maybe there is hope for down and out Mythsters -g-
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