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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (4412)	1/4/2000 8:51:00 PM
From: Jorj X Mckie	Read Replies (3) \| Respond to of 9427

No, the bullish percent for the nuts is at 50% (bear confirmed). Generally, the bullish percentages are used as contrarian indicators to the charts. So, if the INTC chart is looking simply fabulous (it did until today), but the bullish percent for the sector is in an overbought region above 70% (the semis are at 76%), then you would know that it is time to take some profits or hedge your positions. The higher the bullish percent, the further the sector has to fall. The internet sector has been beat up lately (believe it or not) and is neither overbought nor oversold. It can still fall, but it shouldn't be as spectacular as what you might expect from something that is overbought. The nuts may correct more, but I don't believe that shorting the nuts would be that good of an idea.