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Strategies & Market Trends : The Player's Club -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (2920)	12/16/1999 5:42:00 AM
From: bearshark	Respond to of 11513

Hi Gersh: I have been bullish since the one-day volume reached 1 billion shares on the NYSE. In the little dip we had before that, the volume generally stayed above 800 million shares which, indicated to me, that the market was still in play. I think that dates back to October. Unfortunately, I was distracted with other things and did not take advantage of it. For me to survive with my speculations, I must have the time to read the market internals and understand them. I have not had that time. However, now the NYSE internals are very weak. I did a quick look at the chart and saw two-thirds of a potential inverted H&S dating back to around August or so. If we go down to 10,700 on the INDU and stop, that might provide a base to rally. The inverted H&Ss worked flawlessly after they were formed in late 1997 and 1998. I think that could support a potential move to around 13000. Currently, I am looking for breadth to improve about December 27--the start of the Santa Claus rally. After that, a steady improvement in the breadth should support an INDU rally. If we can survive the current danger, I think the money will flow out of the garbage and into the INDUs by mid-January. If breadth does not improve, I will be bearish in my speculations.