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

To: Berney who wrote (20984)	6/26/1998 7:26:00 AM
From: William H Huebl	Respond to of 94695

Berney, I noted several days (weeks?) ago that my consolidation triangle showed a 1130 resistance level and any break through that area was decidedly bullish. And I agree we should have a retest before a strong move up... (retest of the consolidation top) Bill

To: Berney who wrote (20984)	6/26/1998 9:08:00 AM
From: Vitas	Respond to of 94695

Berney, I think the level to watch in terms of a real breakout is the upper Bollinger band of the New York Composite (NYA) . Vitas

To: Berney who wrote (20984)	6/26/1998 9:17:00 AM
From: Gersh Avery	Read Replies (1) \| Respond to of 94695

Hi Berney .. got a couple of seconds now that I can spare. Looks to me like the liquidity situation got ahead of itself. Fed fund interest rates show that the market grew faster than the liquidity that was being made available. We got a fresh fix this morning and should resume the move up. In addition to the cash from the fed being injected into the banking system, we are coming up on the end of month and should start to see the 401k/IRA cash inflows. That inflow should keep us going for the next week or so. Now .. there was some currency fear reflected in the trading yesterday. I think that there may be some fear about China. China could pull the plug on this party. Gersh

To: Berney who wrote (20984)	6/26/1998 10:20:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Berney; This thing I see in the DJI I haven't seen before, at least not this much. Yesterday UK moved or at least held the DOW up, with it's 5pt gain. It's the smallest cap in the DOW..and that's part of the problem I see in the DOW is that a stock that only commands 7B can move the DOW per pt move as much as one that commands 250B. ------------------------- The strong consolidation in the head could also be a sign of very cautious buyers wanting to be liquid. ------------------------- Some other problems with the DOW , GM my god why people didn't see this coming from the day the strike started. GM could still fall "a lot" the Dow should have switched to Ford back in 94. -------------------------- I have my doubts about AT&T, went on that thread when she was 65 and said so, but the Bulls attacked me. I still do not see AT&T as a buy, but as a strong sell. The recent drop in price may have more in it than her buying that internet thingy. There is a rumor now that she could get dropped out of the DOW. It's just a Rumor but if it happens she will tank. This hotshot turn around could get hit bad , don't forget sunbeam. ------------------------------ Over 3 months ago I warned about oil stocks, let keep in mind they ran up on $25 oil..go back and see were they were prior to that even when oil was $19 , why the market is so fast to trade Air lines on a small change in oil price , but so slow on the oil stocks don't make sense to me. Looks like they want to wait till the low price of oil shows up in the earnings. Along with the huge charges they have run up in exploration. Major oil stocks are over priced. ------------------------------------- Last the Dow separated from the S&P last July , and since then has trailed. Cash flow is driving the market but if that flow slows , it could get bad. Yet that could be some time off, and calling the top is not a good idea, but I've gotten defensive as all get out. As have most of the mutual funds. The defensive posture is growing strong & it could in it's own way it may prevent or at least limit a big correction. ------------------------------ Last tech stocks went over bought recently, I look for a pull back in techs within a week. Jim