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

To: bobby beara who wrote (823)	7/26/1998 5:03:00 PM
From: set	Read Replies (1) \| Respond to of 3339

hey there wannabe - I think I understand the technical case for a bounce. However, the selling on friday was serious hard core dumping. Here is my concern. Right now it seems everybody wants to sell into the strength next week. Lately 'sell the news' has become crowd behavior, and those thinking they'll sell into strength often find there's none to sell into. Now the TA crowd, which collectively control a whole lot of money, are aching to sell. Makes sense to me that Mr. Market won't wait around for them. Shahar

To: bobby beara who wrote (823)	7/26/1998 5:26:00 PM
From: Les H	Respond to of 3339

Needlessly to say, the averages are now back in the lower part of a sideways and probably soon to be downtrending 28-day EMA trading band. Thursday, it bounced off the lower band and towards the mean. And Friday, it hit the EMA and retreated. The lone exception is the Nasdaq which is still in the upper band having bounced off the EMA, but is usually the last one to follow and usually harder (since the Dow and S&P are dominated by professionals). The bounds for the Dow on the lower part of its band (which is downtrending) is 8850 and 9070. Interesting item on the Wall Street City message forum: The number of stocks in the Accumulation/Distribution counts in the Market page on IBD has been shrinking. The total number of $ 5 and above stocks found in the Accumulation/Distribution ratings of A, B, C, D, and E are now 7134. I've seen this in the past well over 7500. They use (A+B)/(A+B+C+D+E) in the same manner as the Point & Figure Chartists use NYSE Bullish Percentage to chart market breadth.