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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (43368)	5/17/1998 11:05:00 AM
From: j g cordes	Read Replies (1) \| Respond to of 58727

Regarding the concept of the "Primary Trend" not being altered... I have a problem with that concept for a number of reasons. First, how does one measure a trend? If its simply the lowest line connecting support then one must say for how many years... If you go back to 1929 then current low support is about 3-4000. quote.yahoo.com^DJI&d=my If you use more recent history, say from 1994 to the present.. then a 200 day support is about 8100 and 7000 area below that. quote.yahoo.com^DJI&d=5ym Now what's more interesting is the Naz going through its 50 day moa heading for its 200 day.. which has served as major support since 1994 when it last crossed to the downside of 200 day moa. quote.yahoo.com^IXIC&d=5ym What's interesting to note is how the three times in '96 and '97, once the 50 day was broken it easily broke down to the 200 day before significantly rebounding. Here's a closer look at where we are now:http://quote.yahoo.com/q?s=^IXIC&d=1ym Compare that to the SP500 now. quote.yahoo.com^SPX&d=1ym But this is probably what has the back rooms more excited, the convergence of the 50 and 200 day moa on the 30year Tres. quote.yahoo.com^TYX&d=2ym Or this five year comparison of the SP500 with the 30Yr Treas. quote.yahoo.com^TYX&d=5ys Well 'ol Patrick I just got back from the pool and sixty laps later had time to ponder this crazy world. We all need an atom bomb, then our fates are reduced to the weakest link among us. As India says, they now have the "big one," and because of that, can demand to be an equal among equals on the world stage. So much for what counts for real values in a world full of need. Now we just need a few bombs in Palestine, some in Belfast, some in the New Jersey pinelands.. those geese get pretty noisy sometimes and need to be shoooooed away. Soon enough we'll be like passengers in an elevator holding sticks of dynamite to insure against toes being stepped on. This nuke business is important.