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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (206)	8/21/1998 11:57:00 PM
From: Hank Stamper	Respond to of 15132

Okay so the intra-day lows were tested but what's the volume? The test has to be on falling volume, eh? How much bear food is out there yet? Ciao, David Todtman

To: Justa Werkenstiff who wrote (206)	8/22/1998 12:13:00 AM
From: marc ultra	Read Replies (2) \| Respond to of 15132

Justa, re:more testing. Certainly possible but I really think we may have seen it. The way I figure it (please correct me if my facts are off) we hit our initial correction closing low on 8/4 on heavy volume. We then tested that low on 8/11 and 8/14 both on only moderate volume. We finally got the spectacular test of the intraday correction lows today which was very successful. To be a test you really want to see lighter volume than the initial low and even with the incredible turbulance and volatility today (Fri) volume was surprisingly moderate which is the desired icing on the cake. The extreme put/call ratio etc. simply plays into this scenario and does not change it. I agree I would be a fool to say events can't happen that might upset this but an awful lot was discounted into this market already today and many of the potential sellers have gotten out or hedged and this money is ripe to come flowing back in now. Considering the action of the market can there be much doubt that the sentiment numbers next week will still be at a reasonable number. All the ducks are lined up now but I can't say Elmer Fudd won't shoot them down for the first in his television life. Marc

To: Justa Werkenstiff who wrote (206)	8/22/1998 3:06:00 AM
From: Alan Norton	Read Replies (1) \| Respond to of 15132

RE: Market Volatilty Justa, Why would Bob issue a buy signal before two of the weakest months, historically speaking, in the market? I am guessing here, but his model probably said 'buy'. I know that Bob tracks historical trends. He has often cited previous market events and related them to current situations. Is this the difference between a 'Buy'' and a 'Gift Horse' opportunity? I can't time the market - I'll leave that to Bob. But I do believe in risk assessment. At this point, I am happy to be on the sidelines watching the volatility in the market. The risks are just too high for me to jump in this time. Add a U.S. military strike to my Market Negatives list, although it is more a concern than a negative. Investors in this country could care less about the latest strike, but foreign investors may see this as destabilizing. I have started to pick up a few bargains and will continue to do so through October. I think that Bob is going to be right on this, yet again, although I doubt if we will see this until winter. But what do I know? The market will do what the market will do......