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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Joseph G. who wrote (6484)	10/28/1997 4:12:00 PM
From: MythMan	Respond to of 18056

>>but I'm a firm believer in BK within a few months now.<< a few months, a few years.. get out of here <g>. You belong over on this thread. exchange2000.com Pete ps I still think bk is bs. I should have closed out. sh8t!

To: Joseph G. who wrote (6484)	10/28/1997 7:43:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 18056

Joe, time for some serious tinking. The NH-NL indicator doesn't give any bullish signal yet. At the peak of sell-off in 1987, it was lower than negative 1200. Today is in mere -400's. In the last 10 years we have had a lot of new issues in the market. If we were to see such a bottom, we are still in the beginning of a steep sell-off. Today's rally can best be explained by one thing - trading halts. The halts gave enough time for a lot of people to buy in to the dip and did not give enough time for the shorts to cover. The result - today's buying binge. I am not sure how many shorts were able to cover today. I will say tomorrow we will see a lot of upward momentum at the open and die down towards the close. Thursday will be a bull-killer. If the NH-NL is still in the negative territory, the Armageddon is yet to come. The bottom confirmation may be when the NN is at least 1600 more issues than NH. -Mohan