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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (4080)	8/4/2000 2:19:56 PM
From: marginmike	Read Replies (1) \| Respond to of 19219

The question is does this money come out of New issues and go to other areas in the market? Already IPO's are getting shelved again which could help sustain TITANIC from sinking to quikly.

To: macavity who wrote (4080)	8/4/2000 2:48:58 PM
From: bobby beara	Read Replies (2) \| Respond to of 19219

macavity, i agree the market is working off the oversold condition and may churn for another week or two, possibly all the way to the fed meeting. This is not 1994, people were bearish as hell and out of the market and buying boatloads of putz in 1994, look at the daily rydex numbers, no fear, everybody is in and every little rally they all pile back in -g- here are some leadership stocks that made new highs on july 17th, which look to me completed five waves up from 1998 low, these things need to correct a lot more or at minimum go sideways for a long time to build a base NT had two black gapping candles off the top a "rout of the bulls" stockcharts.com[L,A]DACLYYMY[DF][PB50!B200][VC60][IUB9!LA12,26,9] Adobe has the cleanest 5 wave count with an ending exhaustion wedge. stockcharts.com[L,A]DACLYYMY[DF][PB50!B200][VC60][IUB9!LA12,26,9]