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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (5519)	2/23/1998 10:54:00 PM
From: LastShadow	Read Replies (4) \| Respond to of 120523

"Hefty Correction" I got a bit of email and a couple of posts wondering what insanity possessed me to make the statement about a 'hefty correction' looming. So, I figured I would post some my reasoning. We need to take a longer look. I have three custom indicators that look at larger market movements and conditions. Mathematically it is best described as a Stochastic/Exp MA/TRIX crossover. I won't discuss it other than to say that it now is warning of a poteentially major market reversal. The crossover occurred today for the DJIA (Actual Hi/Low), the S&P 2000, and the DJIA itself. Additionally, it is approaching crossover for the NASDAQ (NCM) and Commodity Research Bureau Index (CRY). The last two times this occurred was between 10/13-10/27 (just prior to th October tanking), and again between 1/3-1/7 this year. Also, the six Market leading mutual funds I follow (but don't own), all leveled stochastically for the last 10 days and the Oil Index improved along with the XAU Gold/Silver Index. Also, the DJ Utilities and Transportations has similar stabilization. The latter indices stabilization implies a shift in money and attention to less volatile equities, and the accumulation in the Bond market I see as confirmation. Now, the market has been moving bullishly for some time, but for the most part all the Most Actives are the industry leaders in their sectors, although they have not made substantial $ gains. Also, the Most Up lists don't usually show anything remotely recognizeable other than some obvious news/story stocks. The same is true for Most Down lists. The market is quiet, and money is shifting but its not going anywhere encouraging. That implies a bearish sentiment so I am quietly exiting my speculative positions and watching attentively. But hey, I'm wrong a lot. It may not happen for a week if at all. Although, I'd rather be wrong and out of the market than right and broke. SYMBOL CLOSE CHANGE CHANGE % NAME NCM 1,751.760 23.630 1.37% NASDAQ Composite Index TRN 3,497.510 45.090 1.31% Dow Jones Transportation Avg RUT 456.290 2.300 0.51% Russell 2000 Stock Index SPX 1,038.140 3.930 0.38% S&P 500 Index DJIA 8,410.200 -3.740 (0.04%) DJ Industrial Avg (Actual H/L) IND 8,410.200 -3.740 (0.04%) Dow Jones Industrial Average UTL 268.800 -1.230 (0.46%) Dow Jones Utilities Index CRY 226.100 -2.340 (1.02%) Commodity Research Bureau Indx XAU 69.600 -1.370 (1.93%) PHLX Gold/Silver Index XOI 442.800 -10.210 (2.25%) AMEX Oil Index lastshadow

To: Broken_Clock who wrote (5519)	2/23/1998 10:58:00 PM
From: LastShadow	Read Replies (1) \| Respond to of 120523

Watch List 2/24 SYMBOL CLOSE CHANGE CHANGE % FONR 2.812 0.125 4.65% IFMX 8.125 0.062 0.78% KMET 21.250 1.625 8.28% MSPG 48.500 2.750 6.01% NT 49.875 1.625 3.37% ORCL 26.375 1.250 4.98% QCOM 51.375 4.750 10.19% SMMT 14.000 0.00 0.00% VVUS 12.562 0.125 1.00% ZITL 13.312 0.875 7.04% Still Long/Bullish on: AAPL 21.250 1.250 6.25% AMAT 37.312 0.937 2.58% AMD 20.750 1.000 5.06% ASND 36.750 1.250 3.52% BGEN 44.125 0.812 1.88% CUBE 21.375 1.250 6.21% DIMD 12.750 0.375 3.03% GM 66.312 0.124 0.19% IIT 15.625 0.062 0.40% PFP 12.875 0.125 0.98% PNF 4.000 0.00 0.00% ZOOM 8.750 0.844 10.68% BOST 7.594 0.469 6.58% INTC 94.187 2.374 2.59% BBBY 42.875 0.312 0.73% IBM 102.875 0.250 0.24% ADBE 43.844 0.094 0.21% The last six in the "Long" list were from Sunday's Weekly List, but since I added those tickers daily data to the nightly analysis, I decided to continue posting them. Actually I was just too lazy to screen them out... Papaya King - thanks for your much more succinct comments. lastshadow

To: Broken_Clock who wrote (5519)	2/23/1998 11:11:00 PM
From: Thomas Sterner	Respond to of 120523

Watch List 2/24 Add: ACCL 3 13/16 CUBE 21 3/8 Hold: ADCT 24 3/16 ANDW 28 17/32 BARR 14 1/4 BORL 9 13/16 DIMD 12 3/4 DMMC 17 7/8 ITEQ 12 5/8 RADAF 16 9/16 Tom

To: Broken_Clock who wrote (5519)	2/24/1998 9:57:00 PM
From: Judy	Read Replies (2) \| Respond to of 120523

Thanks PK, I've seen the same type of data. Also just saw Last's post where he delineates the reasons by which he concludes a "hefty" market correction may be imminent ... mentions that his 30 week indicators usually leads the market by 10-12 days. This is consistent with mid March being the approximate timeframe which a new round of earnings jitters would be set off, to be followed by profit-taking and squaring off of portfolios by fund managers to end the quarter.