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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: space cadet who wrote (17844)	10/1/1998 2:49:00 PM
From: Clint E.	Respond to of 69852

Hi Space Cadet. I still give Favors no credit until we see 6.4K which was his prediction. A trip to 7.4k still falls within recent trading range. Check out market's action in Jan. of this year. Terrible start, followed by a rally. That could be in the cards, IMO. Earnings should be fine in light of all estimate cuts and seasonally strong Q4 outlook, even for the telcos. PC sales per unit volume is still strong. Check out BBY & Circuit City earnings, INTC's announcement... I am looking for a backend-loaded year in which DOW closes around 8500-8600 and NAZ between 1820-1850. Clint

To: space cadet who wrote (17844)	10/1/1998 2:52:00 PM
From: Blacksmith	Read Replies (1) \| Respond to of 69852

>...looks as if Favors predictions might not sound so far-fetched. >A retest of the 7400 low would be completely normal of course. >It remains to be seen if his bearish indicators that forecast >6700 come true. I give him a lot of credit already. Right before the interest rate cut, almost all the comments I saw were very bullish, including some of the leading bears on SI. >Given that these earnings are due in another week and then >continue for the next month it's hard to see how the Nasdaq at >least could continue to fall even thru these great earnings numbers. >That has never happened, at least never as long as I have followed >the market. I am no expert, but look back in the past to what has happened when the market is at extremely high P/Es and money starts flowing out of the market. (I think you will have to look back further than you have been investing)