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

To: j g cordes who wrote (10948)	6/29/1998 8:54:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

The trick in markets like this is to determine strength behind rally. The shorter term positioning of mutuals is not helping here. The hedge funds I think have skewed many market player's perception of the market in relating its ability to strongly bounce back to being the same as general market strength, which is not necissarily true in the specific situation we had when the market was falling through significant supports. I have seen it happen before where the market looks to be on its way to another significant bull run, and then it hits a "magic" number, stalls, and then eventually flops over. I think this is what we need to be on the look out for. I have not figured out the dynamics of such a failed rally yet. But then I have not looked as closely at the market in the past as I do now. Bob Graham