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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (39609)4/19/1999 8:30:00 PM
From: James F. Hopkins  Read Replies (3) of 94695
 
GZ ; Look at the Crossed Swords
quicken.excite.com
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The XLK & XLP represent 50% of the S&P , there are 7 more
The XLB is the smallest cap only 3.52% of the S&P with average
of 5.5B cap size..it's thinly traded and can run up and down
in heart beat , ( it's a minor player ) Big money often called
smart money is in the XLK and XLP,
Note the DIA going up with the S&P falling ..when one goes up
as another falls it's a crossed sword..that's rotation of the
wrong sort & it never works.
One can cut up through the others but not if they a falling,
the over 200 DMA numbers have fooled people, as we had a real
low back in OCT that brought the 200 dma way down , so any thing
that went up increased the numbers, however as of late those
numbers can go up while most stocks are headed back towards the
200 dma and just hasvent crossed it.
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It's not just the most stocks thing ( the leaders have turned )
& the rest will follow.
Also note the MDY cut up through the S&P while the S&P was
falling this is a blow off type top not a broading of the
market, and when they go to try and get money out of them
thin ones which have helped to prop up the index then the index
falls and panic follows.
Some one better hope no one wants to take profit out of the XLB,
if they sell it then sell programs will trigger till the
circuit breakers kill them.
No rally will hold till the XLP & XLK stop falling and start
up, with out them this market is in crash mode.
Jim


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