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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 (9889)	11/16/1999 9:05:00 AM
From: Allan Harris	Read Replies (2) \| Respond to of 15132

DOW 16,660 stockhouse.com Excerpts: The educated guess is the possibility of within the next 6-12 months, we could have a huge explosion. The market is continually held in check by the traders, so it is just a slow process. The slower the better, because if it goes too fast, sentiment gets all out of kilter and people become overly optimistic like we saw on CNBC the other night. It scared the hell out of me. NASDAQ was crossing 3,000 and one of the floor traders was so bullish he was actually foaming at the mouth. I thought he was going to need a rabies shot. You know what I mean. He was really getting carried away like: "We're going to the moon." God bless it, I ain't never seen anything this glorious in my whole life. The market can go up, all the while keeping everybody out. That is reflected in the polling services. You get 60-70% still out of the market while the NASDAQ is making historic highs. That is how you get from wholesale to retail with as few aboard as possible. Remember the Head and Shoulders pattern that everyone was squawking about in the S&P futures? "Man, we got lower projections. This S&P breaks that neckline, we're in big trouble." But, they have short memories. They said the same thing about the CBOE Internet Index, when it put its Head and Shoulders. So, it cracked the neckline for one or two days, and turned around and went straight up. So, why didn't they take that as a hint that Head and Shoulder patterns are not bearish? They keep forgetting that, because CNBC will not remind them of the real world. That is just one of the things. Now, when it comes to daily breadths, the Advance/Decline line, you see we still have this army of nobodies out there, who call themselves technicians and still point their fingers at the Advance/Decline line as reason to stay out of the stock market. Well, if they were pointing at that in 1955, they would have never gotten into the stock market because it still hasn't exceeded the peak that it made in 1955. Obviously the A-D line has nothing to do with the stock market because it has nothing to do with amplitude. A