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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (465)	8/8/1999 11:30:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 19219

JT, if the top is in from the rally off october lows, which i believe there is some evidence of that, bearish sentiment can not be used as a contrary indicator in the same way as it was on the other side of the pimple top. Let's see if the market continues to flounder in lieu of your screaming CRASH warnings, that would be pretty good evidence -g- the street.com saw my chart of AOL/RCA overlayed about 10 days ago and proclaimed the bottom was in for the internets, so far that hasn't been the case -g- bb

To: J.T. who wrote (465)	8/8/1999 1:34:00 PM
From: Les H	Read Replies (1) \| Respond to of 19219

Only 28 percent of stocks are up from 21 days ago. Only 22 percent of stocks are up from 5 days ago. Almost half the trading days since the July 16 top have had 2-to-1 negative breadth days.

To: J.T. who wrote (465)	8/10/1999 11:59:00 AM
From: J.T.	Read Replies (3) \| Respond to of 19219

TIME TO HUDDLE UP THE GENERALS: A CLOSER LOOK AT THE "BIG 30 LARGE CAPS": I backtest to maintain sense of market direction and flow. This from MITA 465: "To put it more bluntly, when the bull troops (the broad market)don't want to fight the battle for Nirvana heaven anymore, the generals are the last to fight (INTC, MSFT, IBM). And when the generals can't bullshit the troops to keep on fighting for the mother bull, its high time before the generals fall in line to take the fall. The troops now total about 50,000 net new declines over advances since last APRIL of 98'. The worst (longest) breadth negative non-confirmation as measured by the NYSE A/D Index was a 16 month lead time before the market collapsed - that period was in 1972-1973 before the commencement of the 45% Bear Market Decline. We are now approaching month 16 to match that feat." Now to the BIG 30: These are the top 30 largest companies by market cap in order: MSFT, GE, INTC, IBM, CSCO, LU, WMT, XON, BPA, T, MRK, C, WCOM, KO, AIG, BMY, PFE, JNJ, TOYOY, RD, VOD, DT, BAC, BTY, PG, SBC, AOL, HWP, DELL, NOK. Only a handful of stocks are up: WMT (good earnings report), the oils XON, BPA, and PG (soap stocks do well in bear market pockets), and KO. Do the generals have what it takes to mount a "tet offensive"? Or should they retreat so we can pick em up at still lower prices? Best, J.T.