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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Roger A. Babb who wrote (676)6/23/1998 3:48:00 AM
From: Dale Baker  Read Replies (1) | Respond to of 3339
 
We seem to have two markets now - a "value" market which is way out of line with projected earnings and a "trading" market where volatility and momentum rule (aided by massive short squeezes).

It's possible that some second quarter earnings disappointments could drag the market back down to reality, but I'm not counting on it.



To: Roger A. Babb who wrote (676)6/23/1998 9:59:00 AM
From: bobby beara  Read Replies (1) | Respond to of 3339
 
Roger, IMHO the correction ended (short term at least) June 15th, fibonacci 55 days from the 4/22 peak on comp and spx. lots of fear and newspaper headlines on the 15th.

NDX breaking out and the Dow is today. Comp bounced off the andrews pitchfork bottom trendline using 10/28 - 12/8 - 1/12 points.

The question is will we go to new highs or fail at 9200?

bwdik,
bb


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