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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: The IB Dude who wrote (32496)	8/19/2000 11:07:34 AM
From: Jerry Olson	Respond to of 50167

Good Morning Boys, IKe and all... i am enjoying the new posters here with much happiness... keep it up...we need the young bright minds here to help us old fuddie duddies<g>... anyway just a quick glance at the SPX... i have been using a very good cycle guy named Chuck Carpino...his work is very acurate, and consistant.. i like trying to trade now using his basic peramaters week to week...i am not investing just trading.. anyway..please look at a "Daily Candle chart of the SPX"... we hit the recent highs on July 17th at 1517.00 the recent top...from there we had a severe decline of about 105 SPX points down to 1412/13ish... from that cycle low date, we have now been moving up making consecutive higher lows thru todays date..you can plainly see this on this chart..of course a bar chart too... each reaction down has become less and less...after we ran up to 1491 which seemed to be resistance, we moved lower last week but only briefly to 1475, reversed off that quickly and broke that R area... what with cycle highs coming this Fri the 25th, i feel we will test that July 17th top at 1517, and because of the current strength of the markets, probably take that out...same with the SPU...exact chart btw... we have a reaction coming off that high?? what ever it will be???, and for my money, that reaction down, will set the stage for the next best move...the lows will come in around the 31st to 1st.... every indicator i follow on Point and Figure is in a BUY zone..with the Main Coach the NYSEBP in X's and rising... so there is a bullish case for at least the first half of Sept to be up, and up BIG!!!! the market is having another sentiment change as we speak, and i feel more bullish today then in the last 4 months...cautious, but bullish... Alan Greenspan will not raise rates and will not warn either...another bullish senario there... what with elections close by, economic reports basically non inflationery..i see no real hard downside at this moment in time... in fact, Ike and all..it's seems to me Goldlocks is here again<VBG>... even tho we have this slowing in our economy..lot's of indicators say we are not DEAD yet...so corporate profits "might" not get hit so hard after all... i like the look and feel of the current overall markets condition...and while OCT looms bold out there for Macro Cycle lows...it may be one of the best buying opps we have seen this year... i am curently very long ATML..did well in CMOS recently... the SOX index and the semis are a bit extended here...and maybe after the 25th they will move back to more normal levels..setting up the next hard run into earnings..which will be very good...this cycle is not done yet... all in all a rosy picture seems plausible just ahead..."long" is where the money is right now.. great to see you boys here..enjoying every minute of it.. my warmest regards Uncle OJ....

To: The IB Dude who wrote (32496)	8/19/2000 1:30:01 PM
From: Luce Wildebeest	Respond to of 50167

Relaxe Zain. It's not a 'grave' mistake and it's not a 'stupid' mistake. It was an honest mistake...no big deal. Don't be so hard on yourself. I enjoy your enthusiasm and your fine posts and your poppa's ok too! niv