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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (10172)6/12/1998 1:03:00 PM
From: Robert Graham  Read Replies (1) | Respond to of 42787
 
Looks like the DJIA is bottoming at 8700. We will know very soon if an intraday bottom has formed. Just as I wrote this the DJIA flew past its temporary pullback which did not turn into a bottom. TICK and TRIN made little change from their "negative" readings at the juncture.

DJIA has more downside left to go today.

Now the DJIA is going to retest 8700. I see it has made it past 8700. This is a good sign. We may yet be seeing some bottoming action here.

Hold on to your horses! The DJIA is moving rapidly to its intraday peak at 8730...did not quite make it, now the DJIA is moving back to test the 8700 to 8710 range. If it bounces at this point, it will be a good sign.

Bob Graham



To: Robert Graham who wrote (10172)6/12/1998 1:29:00 PM
From: Gersh Avery  Read Replies (1) | Respond to of 42787
 
Bob .. worst sign possible

If the short end of the bond sells off to fund stock rally then we could go into a strong inverse yield curve pattern.

When the 3 month yield is higher than the ten year it is a >90% signal for impending recession. Reliability backtested for at least 75 years.

Gersh


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