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To: smolejv@gmx.net who wrote (3546)	8/21/1998 5:30:00 PM
From: MonsieurGonzo	Read Replies (1) \| Respond to of 11051

RE:" Swing Time " Lovely, DJ - absolutely lovely swing (^_^) BlueChips now in stronger hands... What I see is two DownTrends on the OEX-100 index. The first is mildly sloping down from April. The second is acutely down from July. The important thing was to stop that July DownTrend, and I hope that is what we have done this week. My weekly charts are saying that this is a long-term investment buying op. However, the April DownTrend is still intact; so growth would still be negatively biased, IMHO. Message 5551328 OTOH TechStox may have been the best buy today. The NDX-100 & MSH.X - HighTech Index UpTrend from the beginning of August is still intact. LU may be at an entry point - what do you guys think ? DAX ~5000, Load The Boat next week ? -Steve

To: smolejv@gmx.net who wrote (3546)	8/21/1998 5:34:00 PM
From: John Harton	Read Replies (1) \| Respond to of 11051

DJ AWESOME!! Now we know what you use your cd-rom drive for... Some people thought we were in dire straits today but hey the DJIA was up for the week<g> John

To: smolejv@gmx.net who wrote (3546)	8/22/1998 10:06:00 AM
From: Berney	Respond to of 11051

An Early Morning BAMBI Update Well, It's Early For Me! The Dudes will have to tolerate my frivolous posts a while longer. Seems I have no experience to be an Analyst. The investment world would rather listen to the well-respected Kurloch's of the world. As I suspected in last week's BAMBI report, it was a wierd week! The S&P gained 1.7% for the week, but I suspect that few stocks were able to realize such a respectable showing. Yet, many stocks seemed to have moved 5-10% in both directions during the week -- a trader's dream come true. In the DJIA, 13 of the stocks beat the S&P for the week, mildly bullish. BAMBI is still a very bearish 22 to 8. While this is a significant improvement over last week, the trend is firmly bearish. More importantly, we still have to recognize that the monthly MACD, which has been in a consistent bullish trend since early 1995, has issued a bearish signal on the DJIA. In bullish trends we let the stocks run; in bearish trends we take what the market gives us. My research has led me to understand that an investor should initiate positions at the bottom of the long-term trend. This, of course, assumes that a long-term trend or channel is in effect and can be identified. For example, GE has operated in a 10% channel since the beginning of 1996. The market has had few better buy and hold type stocks. GE did, however, violate the lower trend line on two occasions (March/April of 1997 and October, 1997). It has also violated the upper trend line on several occasions and the resulting decline was fairly rapid. It is my observation that the violations of the trend lines in both directions were insignificant percentage wise and short in duration. The problem is that most stocks are not of GE investment quality. Further, many stocks have a well-established lower trend line, but bounce all over the place to the up side (JNJ comes to mind), and other stocks have a well-defined upper trend line, but the their constant declines create significant stomach acids (BA comes to mind). Alas, most stocks have poorly defined long-term trends, and the investor must focus on the short-term trends. It is, in fact, this last group that provides some great investment returns for the nimble investor (AA comes to mind). The problem develops when we treat all these stocks as if they are following the same set of rules, all the time. Clearly, there has been some significant technical damage done to many charts during the course of the last few weeks. Further, IMHO many stocks are trying to create support in mid-air. It's possible, of course, as evidenced by the support created on the Index at 1080 in April thru June, and more recently at 1054. But, I've become wary when I see a MMM trying to create support at 75, or T at 55. I'm equally wary when I see a WMT or CSCO so above the long-term trend as to give one air sickness. Musing from the swamp on an early Saturday morning. Berney