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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (59246)	8/3/2002 9:29:24 AM
From: William H Huebl	Read Replies (1) \| Respond to of 94695

Well, the good news is that Barron's front page shows a green light for investing. The bad news: WHEN HAS THAT EVER WORKED??? Okay guys and girls, into the pool! The bad news is, that while I can make a mini-case for at least a short-term turn-around... it really doesn't look like we will stop at this level for more than an intermediate term bounce. Some of the elements of that bullish case include: - using a fairly reliable buy-sell indicator system on 23 major stocks like IBM, GE and so forth has revealed more buy signals than sells and that has happened in MONTHS! - the secret weapon indicator says buy and when it is wrong, it is usually only by a week... and the buy signal happened on July 29th! - we have filled the SPY gap created on July 29ths move up. - oh yes, and the 44 day RSI on SPY shows a trend breakout. - the composite indicator we keep has moved from a hard sell position to just about neutral. And the negative case for longer term... remember, we have said over and over again that this is not like the September low... and it isn't! theoptiontrader.com That shows as of now that the recovery from the low is weak... neither the 10 AD or Volume data come close to the recovery from the September low. And then there is that thing about the KST charts! While they are not up to the current date weekly, well, you take a look at SPY for youself and compare to September! pring.com Well, we will see about the longer term...