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To: randy kay who wrote (14812)	11/19/1997 8:00:00 PM
From: randy kay	Respond to of 50167

BTW, Further to my previous post, keep in mind that " The NYSE reports the data weekly with a two week delay, but the indicator is still quite effective." This means that the 'specialists' were shorting like mad anywhere from Oct. 24 on and the 'members' were shorting from the 31st. Read the 'how to read indicator' for info. Randy

To: randy kay who wrote (14812)	11/19/1997 10:33:00 PM
From: j g cordes	Read Replies (2) \| Respond to of 50167

Randy.. here's your significant explanation "When both components (specialist and members) of this indicator have exceeded +30% over their average there has been a tendency for the market to go sideways or down over the following two weeks." What is more interesting to me is: marketgauge.com and especially this: marketgauge.com Jim

To: randy kay who wrote (14812)	11/19/1997 10:46:00 PM
From: j g cordes	Respond to of 50167

Randy, I went over a few of the top days before the SP broke to the downside. On each the fund cash level was low (red), and the specialist short positions (short term) were high(red). This would seem to indicate we are heading south from here according to these signs... as limited as this analysis is. Lets give it a few days and see what happens. Jim

To: randy kay who wrote (14812)	11/20/1997 3:31:00 AM
From: IQBAL LATIF	Respond to of 50167

Randy- the configuration of the market has turned very comples- look at following complexities- 1- Bonds making new contract high. 2- Cap utilisation and Ind production going great guns. 3- Non-inflatiuonary numbers on the prowl. 4- World market reeling and coiling. First time we need to look at our pocket maps to see what is ASIA or ASEAN- a very innocent question on an other thread was why ASEAN not ASIA what is the difference. 5- Saddam threats in the region og Oil. 6- Latin America going thru similar crisis- we never had in bull market twin regions of the world being hit by similar economic woes. 7- Vandals are at the door- Speculators can beat the hell out of any country not following the mantra of 'living within your means' Dr Mahatir and Anwer Ibrahim Finanace Minister of Malayasia who studied in Lahore calls this as a conspiracy but this is one malaise which affecting various regions. All this plus others make specialists very concerned but mind you specialists are tryig to deal with complexities of 90's economies with mond sets of 80's unfortunaely in my humble opinion that is not going to work. How much of an impact all the above will have on "US corporate profits is a Milion $ question? Can markets quantify it. in my opinion no, however I think 'purist theoriticans' have been so wrong on predicting demise of US competitiveness - you remember delayering - restructurisation- loss of competitveness and biggest bundle the bankruptcy of America on deficits all this has come to pass. SO specialist interst can be looked with a pinch of salt. Bi BI Randy and you take care not to be badly caught if down draft comes. My lettewr is in response to your excellent question and since we here have a 'School of Art of Learning Skills of market' in session such answers are integral part of our syllabus. I am so proud that you are noticing very minute things and that is a class act. Lets be wrong but atleast lets have an opinion- it is only with a opinion we judge where did we falter.