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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?


To: Ms. X who wrote (23005)8/11/1999 11:25:00 AM
From: Riskmgmt  Read Replies (1) | Respond to of 34810
 
Jan:
Dow now in the minus column, Nasdaq only up 11 down from 45+. So....

>>>Remember how long it took to reverse the BP down? It will take much more than today
and this really isn't a strong rally.<<<

How does it feel to be right!!! <ggg>

I guess I'll just sit on my hands or take a vacation. I would be uncomfortable going short at these low levels.

Take care and thanks-you saved me money once again.

Ray



To: Ms. X who wrote (23005)8/11/1999 5:05:00 PM
From: James Strauss  Read Replies (1) | Respond to of 34810
 
Jan:

New Lows greater than New Highs by a 6:1 margin...
quote.yahoo.com

Just as we are looking for capitulation on large volume to the downside to set in a bottom, we are also looking for an explosive upside move on > one billion volume... We didn't get that today...

If the S&P 500 can close above the 13 day MA in the 1320 to 1325 area along with a reduction of New Lows closer to the 40 area, we might have that bottom...
timely.com

Jim