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To: Terry Whitman who wrote (49396)	12/19/2000 7:48:21 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

the total market a/d line (NAZ/AMEX/NYSE combined) hit a new 3 year or so low today. not terribly exciting. also, don't get carried away by a/d bounces, unless they are truly big. after all the bubble continued to expand enormously with the a/d line in free-fall. agree though that some cycs look trade-worthy here. if that reverse h&s on the CYC behaves to the norm, they could do a nice bounce. but you're right, as a trade, not an investment. imo the chances for a global recession are now better than at any time in the past decade, with the possible exception of '98. today i heard one economist/market guru opine that 'it can't get bad with unemployment so low'. well, LOL. unemployment can rise very quickly...and it's a lagging indicator anyway. besides, that's what they thought in Japan too...