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

To: Gottfried who wrote (25466)	10/18/1998 6:39:00 PM
From: Big Bucks	Read Replies (3) \| Respond to of 70976

G, The guy is a bit too technical in trying to nail exact price movements to the day. This is implausible in that, any bad or great news which I consider "wild cards", will have a more significant effect to this "touchy" market than speculative plays/analysis. The Fed played a wild card on Thursday but there are still lots of wild cards still in the deck, IMO. I did like his historical references to the Fall '97 market major movements (which I projected in July/Aug/Sept '97 posts). A partial quote of his historical analysis: . On October 7,1997 the 5-Day RSI reached 84.05 ,with the Dow at 8178. This was followed by a decline of over 1017 points to the October 27 closing low. On Dec. 5,1997 the 5-Day RSI reached 88.32,with the Dow at 8149. The Dow then fell 489 points to a closing low of 7660 on Dec. 24. I have been calling for a market low after Oct options expiration between last 2 weeks of Oct thru early December, for many weeks now, thus my desire to stay in safe haven investments a while longer. I'm waiting for a few more wild cards to play out to insure that I have a winning hand. Thanks for the link, BB