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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (6013)	6/17/1999 7:44:00 PM
From: Math Junkie	Respond to of 15132

That's the one. Three-month-average bookings up 4% over previous month, and up 29% over May of 1998. Bookings are just 13% below 1997 high.

To: marc ultra who wrote (6013)	6/19/1999 10:39:00 PM
From: marc ultra	Read Replies (4) \| Respond to of 15132

On Saturday's show Bob again pointed out he was looking for new highs at which point he would take a close look to see if there was a change in outlook. He also perhaps clarified the point that the model pretty much needed to see new highs in order to generate a sell signal or that was how I interpreted it. He noted we were now less than 2% off the high on the S&P and a little over 2% away on the Dow and that when the Dow and S&P got around new high level the NAZ which is now 3 1/2% off the highs may join them. I still think there's a lot of cash on the side including more than recent history in mutual funds and with last week's momentum if we start approaching 11K again soon, perhaps after a brief consolidation, more buying may pour in, the technicians will all want to follow the trend and sentiment may start breaking through 70% and the P/C ratio will start to drop again. None of this will do anything to restrain the Fed's continued clamping down on the money supply with a rate hike imminent and we may very well get a sell signal soon. If the economy doesn't show some dramatic slowing I find the notion that the Fed will announce a neutral bias after raising rates at the next meeting far fetched. I don't see a neutral bias until Greenspan no longer feels there are "imbalances" developing. The last thing he wants to do is have to raise rates next year where he might inadvertently push the economy into recession in an election year. Marc