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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (16041)	4/11/1998 1:10:00 AM
From: robert b furman	Read Replies (2) \| Respond to of 94695

I have charted new highs and new lows on three day moving average for years. it is an excellent indicator of major market shifts. More helpful on bottoms than tops.Link on B.K.9757 shows nice correlation in highs/lows and bottoms of market.have also noticed that as top gets long in tooth new lows have an ugly way of creeping up(over forty is rule of thumb).also good top indicator is % of stocks over 200 moving average (in nyse) found I.B.D. just under accum/disr rating of dow jones ind chart -april 9 paper was 66% as high as it was just before big tech stock crash in may thru july 1996.(i have saved my margin call letters for a brutal reminder!Davids calls are more than just readings from elliott wave study- they are at a very high valuation time in anybody's valuation process.Dont tell that to owners of yahoo with greed boiling in their veins!biggest truth of all is our efficient market reflects supply and demand which is impossible for a lone trader to know-however greed and fear create such wild swings that if you are truly selective the middle 50 % is more than enough. my biggest problem has been too active day by day rather than letting big moves make big money. that is also why i admire david's tackling of the most difficult - day trading.a study of E.W. at least will allow the observation of some more blatant wave patterns-that selectivity borders on intuitive and is where i'm willing to pay my tuition of active participation. its a rush CATCH THE WAVE !