To: Robert J Mullenbach who wrote (737 ) 2/21/2000 8:32:00 AM From: Roebear Respond to of 1612
Robert, Most of the indices on this site are colored red and yellow except for XAU, GOLD and Crude Oil, here is the XAU chart:securitytrader.com Interesting times, beware the Ides of March?:afr.com.au nypostonline.com nypostonline.com geocities.com One of SI's best market level prognosticators trades bull horns in for bearclaws, short term anyway, from the Ideas thread: ***** From: IQBAL LATIF Monday, Feb 21, 2000 4:48 AM ET Reply # of 30742 The double close did not materialise we are now in a different band of 1392 to 1342 if we break that lower support we go as low as 1290, Brka looks good in a falling market may be above 50000 the market thinks that its 35 billion in cash will provide him to purchase distressed securities or he has inherent advantage, DOW 10000 is the next objective and we will hit that if 1342 is taken out albeit a inter day thing. <<if 4500 is taken out comprehensively on two closing basis my target on Comp will be 4780 area... on DOW 10500 should hold for this target we cannot see DOW moving lower as Comp tries to make a new high.>> We did not hold that double close above 4500 and DOW kept weakeking finally in the last hour even tech oriented sectors gave up, more weakening is expected if DOW is unable to hold supports now 10500 will be serious resistance if we have second close elow that, S&P will try to test lower supports and fill lower gaps 1320 area if 1342 is out.. ***** IQ's index levels have been almost magical during the bull market and he's pretty good with short term bearish also. Personally, I would be cautious with all non commodity stocks at this time. The only thing bothering me is so many bearish outlooks, it seems the market must fake them out at least. I hope so anyway, I have one health sector stock to unload that I am slightly underwater with so I would like to see a little contrary bounce out of the market. Then I could be whole on it and back to all cash and AEM to watch the show in comfort. I missed a one day double Friday on OEX puts because the market missed my limit order by a quarter point. One can only do so much while at work! PS, Got a ride on an NSC locomotive though, VBG. Best Regards, Roebear