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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (819)	7/26/1998 1:43:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 3339

Les, the head & shoulders pattern on the a/d line projects to the feb 97 peak which would be 427 on the nyse and around 803 on the spx, these are also the targets on the failed H&S from last fall (yes failed because the target was 803, actual 855) Interesting lack of posting on this thread in comparison with the may/june correction, another sentiment indicator? seems most of the bears have thrown in the towel. It is said that crashes don't happen off the price peak, however if you look at the blood and guts of the American economy the DJ65, we made a price peak in April and just recently retested and failed that peak. I think the internet mania and tech mania has skewed the results of the indices. There has to be a new twist each time at the peak to fool the masses, as Mark Twain says, History doesn't repeat itself exactly, but it rhymes. bb

To: Les H who wrote (819)	7/26/1998 11:36:00 PM
From: Moominoid	Respond to of 3339

This week's amateur market technicians' sentiment survey on Decision Point web site: It's amazing how few bears there are compared to at the end of the last rally in April! In Australia today the financial headline is that a share float of $A675 million (the third biggest this year - Rocla Industries - a building materials company) has been cancelled. It was meant to list today. The reason is uncertain market conditions and lack of institutional response to the offer as a result. I have money with another float (sale by Winterthur of Switzerland of remaining stake in HIH - an Australia insurer) of about half that size. We'll see if that gets cancelled as well. Thursday is the close date for retail investors on that one. David