Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Kona who wrote (19810)	6/5/1998 8:50:00 AM
From: Terry Whitman	Read Replies (1) \| Respond to of 94695

Last evening I saw a white cat in a red cedar tree. More importantly though, I saw only 52 new highs on the NAZ and 34 on NYSE. Both dropped from the previous day (On a supposedly UP day). Not a bullish sign. Coupled with the MOT news, it should be an ugly day for the techs. I was told that an old Jewish investing rule is to wait for 5 consecutive days with new highs exceeding new lows before going long. I have followed this rule for the past few years, and verified that it indeed works (as far as confirming a bull market). You don't get in at the bottom, but you also avoid trying to catch a falling knife. Looking hard at shorting AOL today after thurs. rally. TW

To: Kona who wrote (19810)	6/5/1998 9:30:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Kona; I Don't know about white crows. -) BUT take the NAZ it went up yesterday with 145 NEW LOWS, to only 55 New highs. So it goes up with the new H/L worse than the NYSE ..it's hard to convince me this is a real rally. That's 62% more new Lows than Highs on the Naz ( must be a narrow amount of stocks causing the spike ) The NYSE had 53% more New Lows than highs, AND this is not a one day thing New Lows have been out running new highs Since early April, almost daily. Jim