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

To: James Strauss who wrote (505)	8/9/1999 4:48:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 19219

Well we just had a sort of one time event folded into the DOW with UK getting bought. At least it don't happen real often, so take about 60pts off her to see what she would look like had that not happened. I never did like to TA the DOW, it's not weighted like the S&P also 30 stocks just don't seem to be enough diversity to gauge the market by. ------------- I was looking for a bounce today but didn't get much of one, and it didn't hold. But volume was very skinny today so I don't know what to think. I played XLF late Friday, then again on the open this morning but that last was on margin and so I sold it about 1pm for a tiny gain. My DVI Financial sector held today ( slightly up ) and the sox was up, but most others looked poorly. Maybe we are basing, but if not I could have to hold on for a while. ------------ I don't think we will make any new highs before we go lower but I'm looking for a relief rally, if we don't get it and go on down it shouldn't last long, we will get a new high before Xmas. ( IMO ) Jim

To: James Strauss who wrote (505)	8/10/1999 1:24:00 AM
From: J.T.	Respond to of 19219

James, A Quadruple Bottom or SERIOUS OVERHEAD SUPPLY? This range, b/w DOW 11,200 - 10,410 becomes a brick wall of resistance if we take out 10,410. I again bring up 3 of the 9 heaviest trading days in April were in this range: Message 10830389 VOLUME ALWAYS PRECEDES PRICE OF STOCKS (yes, even with 4 month lags). And 4 of the heaviest trading days ever recorded on the NYSE were in April of '99: Heaviest Volume days ever on the NYSE Volume Date 1,216,325 9/1/98 1,213,763 4/19/99 1,201,347 10/28/97 1,150,172 6/30/99 1,114,368 10/8/98 1,088,806 4/15/99 1,022,181 10/16/98 1,001,926 4/29/99 1,001,752 4/16/99 986,640 1/6/99 I think there are some who totally misjudge me. I am not reporting this to raise fear, only awareness. I am reporting facts. And the fact is, the market is not a riskless venture. I report this for the little guy who may be thinking of getting in - to wait for that break. Hell, the resident traders don't need help. They do fine on their own accord. It is the latecomers to the party, the small-cap investor, hell everyone except the 30 large cap stock investors who are getting whacked. Let them make their own decisions of their own accord. Not conform to blindness of bulls who thinks market goes up forever. Or blindness of bears who think market goes down forever. Best, J.T.