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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 (22254)	7/24/1998 2:00:00 PM
From: coug	Read Replies (1) \| Respond to of 94695

Well Jim, The Big, Baddest, and Ultimate Cajones Dipster, aka, the Fed, might have turned this market around via their buddies at GS. just a wild #ss Cougar thought......

To: James F. Hopkins who wrote (22254)	7/24/1998 2:12:00 PM
From: HairBall	Read Replies (1) \| Respond to of 94695

James: The following is excerpt from a previous post of mine on another thread Thursday after the bell: "My investment indicators have been signaling a move down for the overall market. I've been in cash for a few days. This market is very heavy. The following is based on my own short/medium term investment (not intra day) TA indicators: (Oscillators based on daily closing prices, moving averages, volume interpretations and charting!) This is just the Dow Indices: Dow Utilities: Gave a short/medium term sell signal 7/20. Today it closed below its 50 day SMA. Dow Transports: Its momentum turned down, 7/15. Today it closed below its 50 day SMA and knocked on the door intra day, of its 200 day SMA. Two days ago, it popped below the lower edge of its moving trading channel and followed up today by moving further below. Dow Composite: On 7/14 it banged its head on the April high of 4/17, putting in a nasty looking double top. It also closed below its 50 day SMA. (This index is often ignored.) Dow Industrials: Momentum turned down on 7/21 and today it closed below its 50 day SMA and at the lower edge of its moving trading channel." Jim: There most likely will be a bounce and possible retrace, but I believe we still have further downside action to come. Regards, LG