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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: el paradisio who wrote (56744)	7/18/2000 12:49:17 PM
From: Saulamanca	Read Replies (3) \| Respond to of 99985

El, Between 11 and 12 AM the NAZ just put in an intra day inverted H&S and came down and tested the neckline. Might be a start of some sort of bounce. siliconinvestor.com

To: el paradisio who wrote (56744)	7/18/2000 1:15:53 PM
From: Casaubon	Read Replies (2) \| Respond to of 99985

There is an interesting paragraph in the IBD "big picture" article. It states that the put/call ratio calls bottoms better than tops. And that it has not successfully called a top since the 1990 bear market. I thought it was a sly hedging kind of a statement suggesting that if we are entering a bear market circumstances might be similar to that timeframe (ie low put/call ratio which just turned up from a bottom, possibly suggesting the market put in an important top). Just my 2c. Of course, the totally benign view is that the indicator is not good at calling tops, and this is just another case for it to fail.