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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: John Dally who wrote (1500)	11/1/1997 10:44:00 AM
From: Cynic 2005	Respond to of 5676

John, thanks for the links on the charts of the WEBs! I found a clue for a burning question. Will post my thoughts later. -Mohan

To: John Dally who wrote (1500)	11/1/1997 3:41:00 PM
From: Cynic 2005	Read Replies (3) \| Respond to of 5676

John, you certainly made a great point here. The contemporary charts are the best for reading the crowd psychology. To me, predicting a big drop from 8000 is almost a no brainer. I have been burning my brain cells to see which way the market is headed from this point on. Fundamentals say down but some technicals say up. The biggest of my concerns is the rise in volume. For both Malaysia and Singapore WEBs, there was a premature bottom fishing indicated by a big surge in volume. After that, these two markets went in to a tailspin. After that false "bottom fishing," (Mike Burke was a victim too. -g-) these two webs have fallen at least 18%. Now that tells me is the inability of American investors (I am assuming a vast majority are American investors since these are traded on the American Exchange) judge an ensuing crisis. If they misjudged it there, I see why they don't misjudge it here. This may be an answer for my troubling concern about the steep rise in volume post-monday's big drop. Conclusion: We will see another test of 7600 and then a steep fall. If we close above 7700, I think Rarebird's scenario will play - that will be the ultimate bull! Good luck! -Mohan PS: The crowd psychology is same everywhere. But, seperating American investors from the rest of the world is more important here. Great!