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


To: Barbara Barry who wrote (20079)6/11/1998 2:09:00 PM
From: bobby beara  Read Replies (2) | Respond to of 94695
 
Hi Barbara, >>>>I sure hope today isn't a repeat of Oct 23!?!<<<

very possible, Hang Seng has broken support, Japan coming out with GDP report today, Yen looks like it will continue to dump, oil broken thru support, gold breaking down.

And if your a fan of the 55 day rule, I consider April 22, the market peak, when both Nasdaq and SPX similtaneously hit highs, June 15th is 55 days.

Also if you look at the charts, they even look very similar, with the dip recently bought and a failed attempt at new highs

bb



To: Barbara Barry who wrote (20079)6/11/1998 2:28:00 PM
From: Bonnie Bear  Respond to of 94695
 
Barbara: I hold some CEFs and microcaps that are listed on AMEX. In past corrections the bid and ask both go down but at the bottom the spread gets huge. FWIW the spread is huge today.



To: Barbara Barry who wrote (20079)6/11/1998 6:58:00 PM
From: Robert Graham  Read Replies (4) | Respond to of 94695
 
Today a broad based sell off with volume up and the market closing right near its intraday low which places the DJIA below its 50 day MA once again. IMO sentiment continues to be negative with money flow continuing out of the stock market as indicated by the divergence between the stock market and the long bond. Watch for 8750 on the way down. This is an important pivot point.

Bob Graham