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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (24012)	10/17/1999 7:36:00 PM
From: d. alexander	Read Replies (1) \| Respond to of 67946

hi Harry: Thanks for rounding up that excellent sampling of sentiment/opinion. I hadn't read the 50% retracement piece because I noticed the time of post. Won't make that mistake again! It's more important than what they filed at the end of the day. So, if I follow it correctly (no guarantee), at 9.17 am the Dow was approaching a 50% retracement between the August high & a late February low. By the end of the day, however, it was thru the support by 200 points. That's about 5% so Edwards & Magee-wise, not yet definitive. Many are picking the top of 9/08 (approx 9700) as the next support & Thomas pointed out the Bond Market as a factor that might influence penetration of that level (if reached). Or the CPI may contradict the PPI & the Market rezooms. Maybe Mr. McTeer was doing a little damage control. The Economist has been hectoring Mr. G to raise rates since long before their Bubble cover. If he'd taken their advice when it was first offered, the economy might well be in a lot worse shape - not that I would know! but have read that squelching growth can have nasty consequences. Am taking Spooky now & Barrons out to dinner. Sorry to hear about the too many little fires. Come back soon. If the market really tanks, you get to collect on RHAT :-) Dorothy