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To: calgal who wrote (144714)	10/17/1999 12:47:00 AM
From: Ian@SI	Respond to of 176387

A very encouraging chart (#3) in the Barron's Interview with Tom Galvin. Subscribers may view the article and charts at: interactive.wsj.com Essentially the Chart shows the % of NYSE stocks trading above their 50DMA. With the overbought area being above 70% and the OVERSOLD area being below 30%. The market is now at about 20%. The few times that it moved lower than this (once each in 87, 89, 90, 93 and 98), the market moved up sharply to overbought territory within about 6 months. Similar bounce backs occurred any time it went to or below the 30% mark but not below 20%. Essentially, the more oversold the market was, the more overbought it became on the next recovery. My reading of the chart is that we can expect very good things within the next year. Ian