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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: Peter Dierks who wrote (18456)	9/30/2005 6:48:34 AM
From: OldAIMGuy	Respond to of 18928

Hi Peter, It was a surprise to see the market up strongly yesterday even as I was putting up the latest iWave info. This AM I turned on the news to find that the price of gasoline went up $0.50 overnight for regular. Amazing how that can happen! A 20% rise in just one night! I've been hoping that this high risk period will blow over. Maybe when 3rd quarter earnings come in we'll see some reduction in P/E which will help. The sentiment indicator, Divergence, can whiplash back and forth, but this week I don't see any reason for it to have lost any of its bearishness. Finally, Speculation is worse in the small and midcap market than in large caps of Value Line, but even large cap isn't particularly good. So, rather than a precipitous drop, maybe we'll see a bunch of sideways action as past gains are consolidated. I mentioned a week ago that the foreign ETFs that I follow were doing well as the US market was flat to down. So, maybe there's also a shift of asset $$$ to the overseas markets. Talk about a global game of Musical Chairs!!! Best regards, Tom