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To: Paul Shread who wrote (74545)	5/24/2003 5:59:28 PM
From: At_The_Ask	Respond to of 209892

I went through and checked out daily charts on the entire spx and ndx. I noticed a lot of cheapies that were flying and a lot of other stocks that were ready to reverse. A few that had already broken and not many that were bullish. I'm surprised that so many are still looking up. We haven't been below the 10 dma in months and we finally dumped below it and retraced back but still haven't regained it. A close above the 10 dma and I might change my mind but it looks to me like the top is in.

To: Paul Shread who wrote (74545)	5/24/2003 6:22:54 PM
From: bcrafty	Respond to of 209892

Paul, "the trash is flying could mean a top is near" The market has many old chestnuts, and the above is one of them. Some are more useful than others, nearly all of them have a comfortable level of inherent vagueness, and some even have a corollary that is equally true. My feeling is that the above is one that should be watched skeptically. First there's a problem of definitions: who decides what is trash? Some mean a stock with weak fundamentals, others mean anything under $5, still others mean low float speculative small caps regardless of price, and I suppose there are many more definitions than these. Secondly, assuming we've decided what's "trash" it's readily observable that it can "fly" for quite a long time, so who is to say when the flying will stop? Surely, we have a host of indicators to try to help us with that, but by the same token we all know about indicator failure as well. Finally, by its very nature the above expression is a remark that speaks in an anticipatory manner rather than a reactionary manner, implying that one should be ready to sell "when the trash is flying..." It might really be more accurate to instead change the old expression to "when the trash stops flying then a top might be in." Anyhow, people might be buying CMGI (whether rightly or wrongly) as part of a continuing trend in the internet sector which has been in the dumps for many moons until recently. Me? I'll pass on CMGI but there are other internet stocks I hold and might add to. stockcharts.com[l,a]daclyyay[pc8!b5][vc60][iLp14,3,3!La12,26,9]&pref=G

To: Paul Shread who wrote (74545)	5/25/2003 9:34:53 AM
From: illyia	Read Replies (1) \| Respond to of 209892

investorsinsight.com

To: Paul Shread who wrote (74545)	5/25/2003 11:03:05 AM
From: JRI	Read Replies (1) \| Respond to of 209892

(fawking puts...obstacle) Yup, I agree and have stated so....however, rarely indicators lineup exactly, and those could get "evened up" on a down move... Certainly, if I flip it around, and think about long....uh, go long in late May based on (1) bond reallocation or (2) Fed pumping actually WORKING....???....Doesn't seem like a good bet to me, actually sounds like a pretty lousy bet....having said, I think thing will roll over slowly rather than quickly (I think Zeev is onto something at 1465-1478 range taking a bit to fall) We do have Patron's "Wall of Voodoo" straight ahead....good place to lay on a trade, and take it off if broken I reckon..