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Pastimes : Trading the markets..... -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (878)	11/18/2000 12:09:59 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 4583

Chip: This is off the Don Hayes site but I'm a subscriber so you may not be able to access it. Besides all he did was cut and past the two charts (one above the other) and its pretty fuzzy. haysmarketfocus.com Don has been pretty bearish for a while although noting points where we can have bear rallies with the high put/call ratio or oversold conditions. Right now he thinks the S&P is still overvalued by 30% (based upon historica measures including dividends and comparisions to treasuries). Still expects downside over next 8 - 10 weeks. Combination of factors leading to this. Has a target of 1,800 2,000 on the NAZ. I think the main reason is once we break 3,000 technically this will create a lot of selling and the funds will stop rotating and raise cash to meet redemptions. PnF indicators still bouncing from X's to O's. I also like the new BMW SUV. From my perspective I'd rather pay a little more for the safety feature and the BMW SUV just received to crash test ratings. Tim