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To: Trading Machine who wrote (8401)	5/20/2000 10:31:00 PM
From: John Harton	Read Replies (1) \| Respond to of 11051

TM Black Crows, Marubozus and other Entrails It does indeed look ominous. I had gotten buy signals(on QQQ) on my 3 favorite T/A indicators(Candles, MACD, Stoch) on Wednesday and had resolved to disregard the coming "noise" that would inevitably accompany options expiration and look for an entry. I also(wrongly) felt that QQQ would close Friday at ~90 as I had(very roughly) figured that to be the strike that would render the most damage to the most outstanding puts and calls. So a close ~81 a comparative bargain eh?<g> One thing in our favor is that the daily chart on QQQ(our trading vehicle) doesn't exactly match the NDX in the Black Crows and Marubozu dept. Furthermore, if you pull up a 60 day daily of the QQQ and underscore it with a volume table you will see no pattern greater than 3 days of consecutive up(blue) or down(red) volume. This Monday would be 4 downs in a row. BWDIK Here's hopin' we have a good one or get the heck outta there.(^_^) John PS Wasn't Thomas the doubter and Paul the one who kept the faith?<g>

To: Trading Machine who wrote (8401)	5/21/2000 7:42:00 AM
From: smolejv@gmx.net	Respond to of 11051

TM> one point that earns my scare at least a benefit of a smile is - correct me if Im wrong - the increasing volume on falling closes, well, at least the last three days on NAZ. And Friday close looked to me like Mr Market said:"Darn, they pulled a plug on me, and Im not yet finished. Well, so long then, see you on Monday open". dj

To: Trading Machine who wrote (8401)	5/21/2000 10:34:00 AM
From: Berney	Read Replies (1) \| Respond to of 11051

TM, It Does Make A Difference! either we're right on the edge or slightly over it - I can't quite tell which yet! In the first case, you get a beautiful view of the valley before you. In the second case, your focus is on the ground that is coming fast, and thoughts of whether the seat cushion is only a floatation device or is it supposed to be my parachute as well. <ng> Among the new 52 week lows Friday: CSCO, WCOM, MSFT, and QCOM (and over on that other index HD). Now those are/were some heavy hitters! However, as this is taking place, the $DRG just closed above the weekly down trend line from 4/99. I guess that the folks are finally figuring out that there is not going to be any legislation until at least next year. It's hard for me to get overly pessimistic. BAMBI is sitting at a reading of 34 Bullish and 29 Bearish. There were actually 4 weekly MACD bullish signals last week! Of course, all 12 techs continue to be on a sell signal, but I believe we will see the short term bottom this week or next at about 3270 on COMPX. It just continues to be the same game as it has been for over a year -- sector rotation with a negative bias. I am concerned that my SnP line did not hold. It now becomes the upper pivot point and I have it at 1417 for this week. My lower pivot point is actually a range of 1366-1378, and where in here it stops is important, as the lower bound takes out the previous impulse low. This would not be good for the future pattern. So, while I have the lower pivot point only about 2% below us, where it stops is critical. Isn't it funny that a week ago everyone was saying that a 50 basis point move was built into the market. Well, nothing is ever built into the market. Nevertheless, in a few days we'll start hearing that AG and Co are finished until after the election and we'll get our summer rally. All this said, if Monday does not end up closing positive, I'll run, not walk, for the exits, as that is the scenario that sets up a really nasty Tuesday. Just A View from the 18th Floor. BWDIK, JMHO, and all other disclaimers. TB