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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (6480)	8/29/1998 11:08:00 AM
From: james ball	Read Replies (3) \| Respond to of 34811

jj, everyone is focusing on the Dow Jones and that is meaningless. We have already had a bear market in most stocks and a total washout in many. In 1982 the Dow JOnes continued to make new lows in the summer and the small cap issues had already bottomed out and were up 70% in some cases before the Dow bottomed. Those waiting for a bottom in the Dow Jones might just miss a fantastic run in the small issues. Most people and these chartists in Barrons focus on the Dow JOnes and they must might miss the whole boat. Abbey Cohen suggests 9300 by year end and some of those guys suggest 6000. Don't sweat the predictions and simply play the hand you have right. You are the cabboose of the train. IF it goes up hill, you go up hill. IF it goes down hill you go down hill. I don't remember seeing any of these guys in Barrons four months ago saying to get out. Now we're down 1200 points everone has a handle on it. Put the blinders on and dance with the one what brung ua. A.W. Cohen, Blumenthal and the boys. Most of these guys will change to bullish when the market is up 1200 points from here. Stick with the sports page. Tom D.

To: Giordano Bruno who wrote (6480)	8/29/1998 3:14:00 PM
From: Hardline	Respond to of 34811

I am feeling a lot more bullish after reading the Barron's Technical Havoc article. I hope it is on the cover, that would be even better. It never fails that the more histerical the articles are, the closer to the bottom we must be. Hardline

To: Giordano Bruno who wrote (6480)	8/29/1998 3:35:00 PM
From: chartseer	Read Replies (2) \| Respond to of 34811

Thanks for article. Hope and pray that Tom is right. Most investors wouldn t be able to handle the scenario laid out in the Barrons article. Since most of my charting is Dow stocks I tend to agree with article. DIA just broke another bottom below BRL ( Down trend line). Dow in for rough times. It would be nice to see small caps carry the ball for a change. Notice all 5 of my picks long small issues. Don t want to be short 2 months and dont want to be long any large caps at this time. Chose small obscure issues except NOVL. Had to include NOVL since I made such a big deal of its chart pattern. I m partial to turn arounds. Thanks again for article. Also enjoyed Les' Article too! Chartseer

To: Giordano Bruno who wrote (6480)	8/29/1998 7:37:00 PM
From: BubbaFred	Respond to of 34811

The only one I would heed is John Murphy. The second respect is for Peter Eliades. He called the dangers in 1987, six months before October. The others are perennial bears for the last 6+ years. That Chartist guy has been a bear since 1987 crash and he was a bull before that crash. He talks from both sides of his mouth too. It is true that bullish case is out of the question. My own outlook is low of Dow 7500 or S&P 950 in October. If that is taken out, then where??? I hope there it will be calm next week or two, with some nice rallies. And more rallies between now and end of September. I like to trade both puts (mostly) and calls at reasonable premiums. Recession by mid 1999?