Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Brad Bolen who wrote (31307)	10/12/1998 1:00:00 PM
From: epicure	Respond to of 94695

Judy: Did you see that Ralph A has done a reversal this a.m.? From today's Technical Outlook (10/12): ___ Near-Term Last Thursday we lowered our expectations for the Dow and S&P 500 averages (see 'intermediate-term stock market outlook' below). On that very day there were a confluence of many negatives—deteriorating breadth as the transports, techies and many large cap names were in free fall. However, at the end of Thursday's session it was very clear that the DJIA did not break below the critical 7400 level. Friday's upside reaction was indeed very impressive. Therefore, we believe that a good near term low is in place. We expect a vigorous upside follow through. We believe the market's near term outlook is positive and should be played on the long side. Next Previous

To: Brad Bolen who wrote (31307)	10/12/1998 2:03:00 PM
From: P.T.Burnem	Read Replies (2) \| Respond to of 94695

RE: Ralph Accampora has reversed his bearishness though- he is now saying we have put in a near term bottom. I think so too- The market seems to put a bottom every Friday, thanks to bears covering their shorts ahead of a weekend. The following Monday jr.bulls, who live in constant fear of missing the bottom of the bear market, bring the averages up in the bear territory, and the weekly cycle begins to unfold. I shorted SPY near the high of today. Let's see if it can make it to my stop placed a tad above the high. PTB