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To: pater tenebrarum who wrote (53797)	7/29/1999 7:03:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 86076

Heinz, ralphy phlipped his lid just prior to the August 4th drop last year, so he was pretty timely on that call, people were beating on him because about a week before that he was calling for dow 10,000 around the corner. The picture of the mcllellan oscilator is of narrowing highs and lows a very defined triangle, just like the nutz triangle generated momentum when it was broken so is this one. even though the spx is not a narrowing wedge, it's still some kind of wedge or bearish rising channel, these can break just as hard as H&S patterns. I think a lot of bulls are still trapped and had in their mind they would sell in August after earnings season or they have bought the 9 month cycle bottomed in june and all is clear. Part of the financial collapse that yardeni is thinking i think will come from the very large sentiment divergence between $ and gold, and the big reversal that may happen here, beara-ing a bunch of traders on the wrong side. bb