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

To: Jay8088 who wrote (33265)	11/7/1998 9:56:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 94695

Jay, emotions have been played out on 8/31 and 10/8, bear market panic bottoms. The bullish divergences and the tape say bull. Don't become emotionally attached to a position that goes against the tape. Demand for stocks is outstripping supply, the basis of economics - prices go up when demand is there. Everybody was scared out of the market in the Fall of 98, now the situation is reversing and that trend won't die soon. The rally into 9/23 was a bear market rally, not this one. bb

To: Jay8088 who wrote (33265)	11/7/1998 10:16:00 PM
From: bobby beara	Respond to of 94695

XCI has broken to new highs without bellweather MSFT. MSFT will have to follow or this trend will be unconfirmed. MSFT looks like it was breaking out of it's narrow trading range from 10/20 peak on Friday on improving volume, continuation breakout next week on improved volume will mean much higher prices on SOFT. On a wave basis, this contraction period from 10/20 looks like a wave 2, so the next wave up should be substantial. Billy and Billy will both slither out of their problems again -g- bb

To: Jay8088 who wrote (33265)	11/8/1998 12:30:00 AM
From: Greg Jung	Respond to of 94695

After watching the indexes rise while betting they'd go down the emotional response is to think there's no further it can go. However in the smaller stocks, that aren't reflected in the S&P or the dow, are still oversold, (excluding the tech stocks). We can still have a pretty good rally underneath the leaders even if they consolidate a bit. The broad market did seem to run out of steam on friday, however - except for the "action" issues most stocks I look at were trading at volumes well below the average. Politically we now have another wild card with Gingrich stepping aside and the Hyde circus underway. We may also get some interesting interviews on the house banking committee if Rep. Jim Leach has his say about the recent shenanigans. Greg