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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 (19104)	5/26/1998 4:40:00 PM
From: Pierre J. LeBel	Read Replies (1) \| Respond to of 94695

lisa: quote.yahoo.com^STI.N&d=1d

To: ViperChick Secret Agent 006.9 who wrote (19104)	5/26/1998 4:43:00 PM
From: P.Prazeres	Respond to of 94695

lisa, If we are down tomorrow, then it may get quite ugly by mid afternoon. I picked up Dow94 puts this morning in the "strength" and am pretty happy right now. What the Dow did today was to begin to catch up to the rest of the market. I'll look over the numbers when i get home...but I suspect that the correction that will test the 200 day MA on the dow showed its true beginnings today. Paulo

To: ViperChick Secret Agent 006.9 who wrote (19104)	5/26/1998 4:56:00 PM
From: Oeconomicus	Read Replies (1) \| Respond to of 94695

Lisa, I was using Yahoo's ^STI.N and .O for today's figures and Barron's for the prior 4 days. Two parts to my reliability question for anyone who may be able to help. First, frequency of false signals? Second, more of a significance than a reliability question, but is it as likely to mean just a short-term "oversold bounce" or does it usually signal a more meaningful move? Bought some more SPX puts this morning, but I'd hate to get whipsawed... again!... so any clues are appreciated. Regards, Bob

To: ViperChick Secret Agent 006.9 who wrote (19104)	5/26/1998 5:19:00 PM
From: Bull RidaH	Read Replies (4) \| Respond to of 94695

Lisa, The closing Trin today was 1.84, and last Tuesday's was .98. My satellite sytstem was out wed, thurs., & fri, so I don't have those #'s. Do you? I expect the 5 day trin to go a little past 6 on this buy setup, and am looking for a negative 300 to 500 on the Mclellan Summation index before the correction is over. Carl & I have us in Wave 3 down now in the C wave that started at the highs on 5/14. So we still have at least a few days left before the 5 waves end. But if this correction is like October's, the low point of the correction COULD come at the end of wave 3. The most likely target I see for the bottom is the low 1070's on the S&P, but if that fails to hold, we'll take a crack at the high 1050's, and if that area gives way, we could see as low as the low 1030's. I don't see any way possible the correction could go lower than that. The bigger story is what happens when this correction ends...and that I am very confident will be a very strong rally that will take the market to new highs on major indices by late June, and to the 1240 SPX area (Dow 9750) by the end of July. David