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

To: yard_man who wrote (23619)	8/7/1998 3:55:00 PM
From: jef saunders	Read Replies (2) \| Respond to of 94695

jerry favors was just on cnbc. he called for support around 8200 (8187 +/- 123 points), next stop 7300 later this fall. he showed his quarterly indicator is now bearish, and for it to turn postitive again, the dow would have to break 9400. he showed charts from '29, '37, and '61 where the quarterly indicator had turned bearish and then there massive drops 6 months later. he said the last few years the indicator has not worked, that it had turned bearish, and then the market had rallied enough for it to turn postitive again. (this time, 9400 is the rally point). he's looking to short the market on any significant rally, but he says we haven't had one yet, where it's up for a day and then disappears, like today. jef

To: yard_man who wrote (23619)	8/7/1998 6:15:00 PM
From: James F. Hopkins	Respond to of 94695

Tippit; Here is what I posted to Monty in a privet message, Monty , we still had more buying today than selling, and it seems the allocation is moving down stream some. I would worry about that if that is what takes us way on up , but at these levels I see it as an adjustment, to the value of the MO Mo stocks. This is a little FA over riding the MO MO.. Other than that while we had the strong uptick early in the day they kept a lid on the prices, and this time when the tick went negative they did not distribute ( hold the indexes up )..they bought the s**t out of this dip late today, but not hard enough to turn it, and we have 19.49B sitting in Money Markets. --------------- Other bad signs were not there, like interest rates stayed tame even on the rally. We had two U.S. Embassies Bombed today, and that news also caused a knee jerk to the down side. Jim