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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (56121)	8/11/1999 5:04:00 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 86076

where's Luc? he can tell you that today was shorts covering,,,,volatility adds to the crash scenario......i know, i know......F*ck Luc,,,too.... either that,,or we've made a turn and now, we're sideways to up.... -ng-

To: MythMan who wrote (56121)	8/11/1999 5:34:00 PM
From: pater tenebrarum	Respond to of 86076

MM, i have just taken a gander at a long term chart of the Dow Industrials vs. the Transports, and the current divergence seems to be the largest EVER. the transports have put in a double top defined by their april '98 and may '99 highs. their action when viewed on a long term chart suggests that the rally from the october low was an extended bear market rally, in spite of it making a new high this year. it seems now to have re-entered it's bear market even though the rest of the market is still ignoring this. btw, the same can be said for the RUT, which has peaked along with the transports and the a/d line in april '98. what this suggests to me, is that the medium to long term picture of the market is now extremely negative. we may get the occasional sharp rally thrown in, i wouldn't even exclude the possibility of new highs for the Dow and the Naz sometime this year, but the onset of a devastating bear market is probably nearer than most people think. market historians will point at the RUT, TRAN and a/d line divergences in coming years as early warning signs. to any long term investor rallies should be viewed as opportunities to distribute stocks and protect the gains achieved in this incredible bull market....the end is near. i hope.<g>