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

To: yard_man who wrote (22440)	7/27/1998 4:17:00 PM
From: James F. Hopkins	Read Replies (4) \| Respond to of 94695

LOL; Maybe I shouldn't laugh yet but I can't help it ! We double bottomed at Fridays low and just took out Fridays High.. The trouble will finally arrive after the small caps bottom and run up..and not just run up..they catch on fire then start to run up at the expense of the liquid stocks. As long as they run up on new money it's not a problem, it's when they become the FAD and people sell the liquid ones to buy them, instead of using just the new money. We have not entered that stage yet this year.. It is exactly what happened last Year in August ,& Sept , and most every time there has been any big correction. So far we still got the same knee jerk earnings stories they wipe the market around with. Filter out the foam, & look at the liquid. Jim

To: yard_man who wrote (22440)	7/27/1998 4:45:00 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 94695

From Today's Briefing.com Stock Ticker: Close Dow +90.88 at 9028.24, Nasdaq +2.28 at 1933.27, S&P +6.47 at 1147.27: The equity market finished the day mixed, but there was a dramatically different tone between the morning session and the afternoon session... Coming back from the weekend, traders resumed their profit taking efforts, concentrating primarily on the tech sector which led a 43-point decline in the Nasdaq... Blue chips were not immune to the selling pressure, and also gave up ground during the morning trade as lingering earnings concerns and skepticism surrounding Obuchi and impending reform efforts in Japan sparked a decidedly negative bias to start the week... Relative to the tech sector, blue chips held up pretty well during the early profit taking, suffering only modest losses... However, when American Express (AXP +5 3/4) reported better than expected earnings just after 13:00 ET, the blue chips quickly reversed course and steadily gained momentum throughout the afternoon, finishing at their highs of the day... In conjunction, buying interest soon spread to the tech sector and in remarkable fashion, the tech-heavy Nasdaq ended the day in positive territory, helped by bargain hunting and short-covering... Large-cap industry leaders paced the comeback effort... The Nasdaq 100, which was down more than 2.0% earlier, finished up 1.26%... As has been the case for some time now, the gains were narrowly-led as breadth was decidedly negative on both the NYSE and Nasdaq where decliners outpaced advancers by a 2-to-1 margin... In other words, today's gains were less than convincing, and most likely, nothing more than the proverbial dead-cat bounce... DJTA +12.14... DJUA +0.27... SOX +2.80... CRB -0.93.