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

To: James F. Hopkins who wrote (24867)	8/22/1998 8:26:00 AM
From: Monty Lenard	Read Replies (1) \| Respond to of 94695

"Note most of them closed close to their highs for the day" Jim, I looked at a great many charts last nite, and there are an awful lot of them that did the same. I took readings on the Yahoo Adv Dec info all day yesterday and kept track of the ratios about every 15 minutes. I used that info to decide when to buy the DIA. At 10:20 CST the NYSE dec vol was 26 times greater than the adv vol. At 11:45 that ratio was 15, at 1:30 it was 9, at 2:20 6.5, and at 3:00(market close) it was down to 3.5. (Adv Dec Issues did the same of course). At about 9:15 I would have wagered that the market was going to retest the lows of 8/5 thru 8/17. When they got there the buying really picked up. IMHO, what we saw yesterday was PURELY a TECHNICAL rally off support and had nothing to do with a fundamental belief that everything is OK; therefore, I think you were correct when you sent me a post stating that this has not been "resolved" yet. I believe I sent you a privy post about the RUT at 390. When it hit 390 it was like it hit a brick wall.. it came off that support and went back to it a couple of more times. I will mention again that I read somewhere that this is done so that the money can move out easily due to the liquidity you speak of. Do you not think that the magic 10 would be where the money is still being parked until this thing decides which way she is going to go? Monty, just rambling as ususal :-)