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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (50302)	8/29/2000 9:33:24 AM
From: allen menglin chen	Read Replies (1) \| Respond to of 63513

MarketGate for August 29 Date: Mon, 28 Aug 2000 21:51:15 -0700 With Labor Day nearly upon us (boy the summer went fast!) we've got to be prepared for trading to cool down substantially. One of the first signs came yesterday, as the market backed off from earlier strength (looking at the blue chips), while the Nasdaq did the same after it was unable to clear Friday's intra-day high. Breadth was slightly negative on the Big Board and at the same time slightly positive on Nasdaq. As I reported over the weekend, one of my market cyclical 'change points' is due today, Tuesday. In plain English, once gain, should the market rally into that point in time, the probabilities favor a sell-off OR should the market decline into that point in time, the probabilities favor a rally. Of course, we could be looking at a one-day dip as well. The bond market has tired out a bit too and the Nasdaq was unable to clear Friday's high yesterday. A pullback seems probable. Turning to Yale Hirsch's Stock Trader's Almanac, we receive some cryptic messages regarding what to expect in the days ahead: "1. Favorable 'Super Six Days' not so favorable end of August/beginning of September; 2. Last two days of August murderous three years in a row; 3. September opens strong four years in a row; 4. Day afer Labor Day up five straight years, afte five losses in a row." Mark Leibovit vrsurvey.com