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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Big Bucks who wrote (24399)	9/18/1998 1:33:00 AM
From: Gottfried	Read Replies (1) \| Respond to of 70976

Big Bucks, you have linked to very interesting charts. I'm a TA beginner and won't argue with the experts who drew them. Even a beginner can be alarmed by the dependance on the DOW with its 30 large cap stocks. You probably look at other indicators, too - but the last few links posted were for the DOW. I suggest to ALL to consider other indicators of market health besides the DOW. One I find useful (after struggling for almost a year) is the NYSE bullish percent. This simply counts the number of NYSE stocks on a buy signal (therefore in an uptrend) and expresses that number as a percentage of the total number of stocks. This indicator warned of trouble as early as May, while the DOW was getting ready for another rise. More about this indicator on request. 207.95.154.130 IQCharts has improved their site and is worth a look if you haven't been there. Try the Java charts. Easy access to index charts. too. One last thought: here's a list of the 30 DOW stocks bloomberg.com Do they represent your portfolio? Regards Gottfried

To: Big Bucks who wrote (24399)	9/18/1998 10:18:00 AM
From: Bruce Dorval	Respond to of 70976

BB, Thanks for your reply and the TA site. It is very interesting. I had thought of selling some AMAT when it hit 39 for the third time. Unfortunately, I could not get myself to do it and now plan to hold to the next upturn since it is predicted to occur in a year or so. However, I hope that I will pay more attention to TA next time something that evident comes by! Bruce

To: Big Bucks who wrote (24399)	9/18/1998 5:55:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 70976

The move up from 7400 is a classic 'double zigzag fornation (called a B or a 4 in Elliott lingo)----First ZZ was abc to 8039ish--then we had an abc down to 7520ish from where we launched the second and last ZZ. My best guess is that we need to print marginally above 8100 next week (8150ish would mark 38% retracement, a classic stopping point) to complete the whole move--then downtrend towards 7000 begins. Something will come along on the worry front to trigger it-don't know what don't care. Only after the break of 7400 will it be 'safe' to buy, and then probably only for a trade back up to the mid 8000's