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

To: James F. Hopkins who wrote (22251)	7/24/1998 1:33:00 PM
From: HairBall	Read Replies (1) \| Respond to of 94695

James: The day ain't over yet! Regards, LG

To: James F. Hopkins who wrote (22251)	7/24/1998 2:35:00 PM
From: Oeconomicus	Read Replies (2) \| Respond to of 94695

For that to happen on Friday is a bullish signal. Jim, considering how battered and bruised the bears have been this year, who do you think is more concerned about being whipsawed over a weekend, bulls or bears? 400 Dow points down in 4 days is likely, IMO, to lead to a little short covering/oversold bounce, but I'd hardly say that bounce signals that the decline is over. Besides, the June closing low was made on a 200 or so point down Monday, after an apparent reversal on Friday. Interestingly, the June high close was made one week earlier, also after a strong Friday rally. I respectfully submit that, for that to happen on a Friday is a bullish signal... for that Friday. Beyond that, BTHOOM. Bob PS: Why is NB in the "Magic Ten"? (Is that your list or did someone else make it up?) I know NB is at a historically high PE, but so are all banks. Also, it was a serious laggard last fall due to arb selling after the Barnett deal was announced. Hugh McColl has many talents, but magic?

To: James F. Hopkins who wrote (22251)	7/24/1998 5:31:00 PM
From: P.T.Burnem	Read Replies (1) \| Respond to of 94695

Since I posted taht one I've said Bear Trap, & it just reversed, and with a vengeance. For that to happen on Friday is a bullish signal. I don't think the bears can stop it now. And then it reversed again, and again, and again... In the end, the bulls managed to push the Dow into the positive territory, apparently hoping that bullish headlines may lure the public back into the stock market. A bull trap has been set... Anyway, I bought a bunch of PFE, MSFT and WCOM just before the close that I intend to sell by 10am Monday morning. As to the direction of the market's next move, it will be determined by the next big headline. PTB