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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 (22279)	7/25/1998 10:49:00 AM
From: bobby beara	Respond to of 94695

Jimmy, I don't really put any stock in candlesticks other than they give a good physical representation of the ebb and flow of trends. I could use the candlesticks on the SPX to show the same trend reversals, they are just a lot more evident and striking on the Nasdaq. >>>I feel broad indexes such as the Naz can get skewed to much<<<< Nope, I believe the indexes are the best way to gauge crowd behavior and since we are in a speculative market the best way to see changes in crowd behavior is to watch the Nasdaq. I think we have seen a trend reversal. The peaking sentiment indicators, the bounce off the 5/96-8/97-4/98 trendline, the internet frenzy, rapidly declining earnings momentum (yes this does count new paradigm'rs), and the pinpoint reversal I've been talking about. I could be wrong, but I don't believe the excesses built in from the run off 6/15 were corrected enough this week to begin another bull leg. bb