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To: Trading Machine who wrote (7333)	12/2/1999 4:46:00 PM
From: MonsieurGonzo	Respond to of 11051

TM:" looks like Bessie finally woke up..." ...check out NX - Quanex -Steve

To: Trading Machine who wrote (7333)	12/4/1999 12:55:00 PM
From: Berney	Read Replies (1) \| Respond to of 11051

More Tuition Paid to the Investment Institute of Higher Learning It seems so easy when one is looking back! The lower trading band of the SnP has clearly been determined for 1999 from the weekly trend line connecting 7/17/98 and 11/27/98, and letting everything else fall where it may. Ugh! The Fib numbers are interesting. The weekly high for 7/23/99 was 1420 and the low for 10/9/98 was 923 -- difference 497 points. The low for 10/22/99 was 1234 -- difference 186 points. Drum roll, for a percentage of 37.4%. Ugh! "So where to now Alice?" he says to the white rabbit and the magic coke can. I can see three numbers -- 1,449, 1,481, and 1,546. If I look at the daily period from mid-Sept to late Oct, I could rationalize a "W" with 1337 as the high and a base of 1256. Using our little formula, [((1337 - 1256) x 1.38) + 1137] equals 1449. Interesting number since the high Friday was 1447. As usual, the weekly chart provides further entertainment. The high for 7/17/98 was 1188 and 11/27/98 was 1192. Let's split the difference and call it 1190. The low - hmmm which to use -- using the average closing low of 9/4/98 and 10/9/98 is 979. [((1190 - 979) x 1.38) + 1190] equals 1481. If I use the absolute lows, I get 1546. If I consider where the OEX upper trend line is, I have to consider the former more valid. So we got the potential of a couple of percentage points above us, and down is a long way. Friday was interesting in that of the 34 little puppies that I track, only 12 were up. Further, there seemed to be a lot of late day selling in the Big Boyz. Just A View from the Swamp TB