Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: David Bogdanoff who wrote (1945)	10/30/1997 11:25:00 PM
From: mister topes	Read Replies (2) \| Respond to of 42834

Brinker appeared as a special guest with financial journalist Lynn Jimenez on KGO Radio San Francisco on Monday afternoon while the market was in freefall. He put forth a three step roadmap for the market which he said would occur during the week. Step One, he said, was imminent. Step One involved an abrupt turnabout in the market's freefall and this developed on schedule Tuesday morning. Step Two was a rally of up to about two thirds of Monday's decline which would fail Wednesday or Thursday. This also happened on schedule as the market rolled over completely Wednesday afternoon and Thursday after recovering a little more than two thirds of Mondays decline. Step Three was the testing process which could be prolonged well into November as the process of establishing a meaningful short term low continues. Brinker also said Monday's closing lows for the Dow, S & P and Nasdaq would not be violated by a wide margin during a successful testing process. He also said the violent nature of the short term decline could require more than one test of the low area. As of Thursday night it appears Brinker's crystal ball is still working. The S & P decline of 11% is within one percent of Brinker's normal 10% short term correction target.