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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Wally Mastroly who wrote (7906)	8/19/1999 3:36:00 PM
From: marc ultra	Read Replies (1) \| Respond to of 15132

Wally re"he New Lows continue to dry up..." Yes this is a positive but we did just reach the all time highs in the Dow so it's no great shakes that we are only running about 2:1new 52week lows to highs in that chart and we still had I think 75 new lows or so. Let me remind people that when we broke levels into major new highs before we saw powerful positive breadth and volume of 800 mm-over a billion on the NYSE and all the major three averages booming together. Ever since the May highs we've been spinning our wheels with one nice move in the historically strong first two weeks of July which also I believe has marked important tops in the past to the July 16th highs which Bob shrewdly identified as possible benchmark highs. Since then we have had no poverhouse rally taking us to bigger and greater things but have been mired in a pattern of distribution and cyclical outperformance seen at the end of bulls. Considering this I am not in the mood to now give back huge amounts of profits on the hope that nothing bad may be happening here even though it's in front of my face everyday. I don't know what it will take to have Bob pull the plug but considering I seem to live in a US city that gets Marketimer last I've decided to take some defensive action and will get more aggressively defensive if and when I hear a sell from Bob. I'm still net long so I'm not going to get hurt if we get some explosive up move here but I'm also not going to get demolished if we drop precipitously Marc