To: James F. Hopkins who wrote (597 ) 8/13/1999 4:25:00 AM From: J.T. Read Replies (1) | Respond to
James, I thought it best to post DOW levels before PPI/CPI data just to reinforce nirvana I don't know what I am talking about: DOW From MITA 419 on Fri Aug 6th:decisionpoint.com We can now expect the downtrend to continue to manifest itself. I expect primary support of 10,648 to be tested and taken out in the next two trading days (FRI 13th, MON 16th)on a close. Further, once 10,648 is taken out(close), expect downward gravitational pull to penetrate through 10,470 to immediately materialize in quick fashion before some attempt of an intraday bounce back above this level. This may or may not hold above 10,470 for the day. It doesn't matter. Custer Bulls last stand is 10,410 and I expect this will get taken out by TUES Aug 17th close. Once 10,410 is out, next support is DOW 10,170. Ralphie BOY Amakeyoupoorah (Mr. 13K DOW)and his bull cohorts will then spin the spiders chamelean web-weave stating this impending fall below 10,000 is healthy for long run bull but its the interest rates blah blah blah. The reality is only last month in face of earnings season were they laughing at bears proclaiming victory and snidely pounding the last nail in bear coffin to forever bury bears. Here it comes...I stick my neck out because BREADTH DOES COUNT, AND TO THINK I AM BLOWING HOT AIR DOOMSDAY WITH BLINDERS ON SHOWS COMPLETE ARROGANCE BULLS HAVE TO RESPECTING THE A/D INDEX, let alone anything some naive bear would say.
