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

To: HairBall who wrote (22977)	8/1/1998 6:44:00 PM
From: Temple Williams	Read Replies (1) \| Respond to of 94695

Commentary for Monday, August 3rd, 1998: If the market follows my Preferred Count, it should kneejerk higher after a slightly lower open (the lower open may be swallowed by overnight trading on Globex -- what I call a Globex Gulp -- and never really appear). Not long after the opening bell, the market might move as high as 1127.50 Cash (1132.00-1135.50 the Spoos -- the S&P Futures -- depending on "premium burn" -- the amount of premium they "strip" from the futures at the peak or valley of a stop run). After the opening bell, the buy should dissipate quickly, probably by 10:00 a.m., and the rest of the day (like Friday) could see a fairly powerful sell that moves the averages towards the basement of 1080 Cash SPX. It will take 2 to 3 trading sessions to get there. Because of the "negative" market opinion at the dungeon level of 1080 Cash SPX, I expect the premium burn to drag the Spoos down to almost the same level. I would interpret that as a strong hint that the worst is over, because Power Money will jump all over "free" Spoos. So ... that will probably be the buy zone. Many people will consider it a killing zone ... certain death if you go long ... why else would they be giving away the Spoos? 200 day MA's will be lying, busted, all over the place. It will not be an easy buy at the 1080 Cash/Spoos level, because of all the negative, bearish sentiment being tossed around after the close on Tuesday and before the open on Wednesday. Nevertheless, I believe 1080 the Spoos will be the bottom-fishing, buy-of-the-month "special". All of which depends on the validity of the Preferred Count series of charts. Which brings me to my Alternate Count ... which says the correction is already over. I remain painfully aware of this possibility. An enormous amount of (a) money sits on the sidelines, and (b) political pressure exists to "save the Administration" by adding liquidity to the markets. I have one member at Temple's EWave site who has just gone to 7 digits of cash in his investment account (not his trading account) ... and he is ready to jump all over an identifiable bottom. Moreover, a lot of Big Important Political Jobs depend on the market NOT collapsing. Any Bearfest can be brought to a screeching halt by just one Significant Hand manipulating the money spigot. I am NOT a conspiracy buff, but I certainly DO know how the system works. I know what a few well-placed phone calls can do. The Alternate Count can dominate the market if the index moves easily above 1130 Cash SPX early on Monday. fwiw. moo. skansearch.com

To: HairBall who wrote (22977)	8/1/1998 11:30:00 PM
From: Investor2	Read Replies (1) \| Respond to of 94695

Re: "Last time either index did this was early 1994! Nuff said!" Early 1994 was just before what may have been the greatest buying opportunity in history. quote.yahoo.com Are you projecting another awesome buying opportunity? Best wishes, I2