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

To: Robert H. who wrote (31253)	10/11/1998 4:26:00 PM
From: Brad Bolen	Read Replies (2) \| Respond to of 94695

To my novice eyes, the technical situation looks unusually clear to me for the DOW. We have a 50 DMA around 8150, we have a recent high around 8150, and a intermediate trend line which will be broken around 8000. Notice all these points are very close together! If we could break all three to the upside, barring any more wacko economic news, I will be more likely to go long on some 'bargains'. My question is, why would anyone want to go long here in the hopes of catching 2 or 3 hundred points of upside? (Daytraders excluded of course). Would it not be better to miss these few points and get confirmation of a trend change first. Thoughts? B.