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

To: Gersh Avery who wrote (34215)	11/23/1998 5:21:00 PM
From: Joss	Read Replies (1) \| Respond to of 94695

Hi Gersh, OK tick just shows a trade .. doesn't matter if it is one share or 100,000 shares each trade counts equally for the purpose of figuring out the tick. Thanks, that is the piece of info I needed for this to make some sense. Steve

To: Gersh Avery who wrote (34215)	11/23/1998 5:56:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Gersh; Thanks that makes some sense of it, I did take the top 25 in the S&P and run a daily chart on them after the close. In as much as they make up about a third of the S&P cap, most all of them traded up good today except JNJ, but other than MSFT and CPQ , most of them were up to much for the volume they traded, most of them had below average volume but were up more than average I have found that when volume falls off as a stock goes up it can signal a top. For sure we are at resistance levels, and I think I'll wait and let the brave and bold take it up through that before I come back in. ------------------- Last while the Huge Big Blue Caps are up over 21% since I re weighted them Sept 2nd, that's in our eyes. The foreigners who buy them ( and they mostly only fool with the big blue caps ) are seeing only about a 10% gain because of the big drop in the value of the dollar. So to us they are near touching the all time highs, but to them ( as they had to convert to dollars buying they are still over 10% from their highs ) Without a stable currency and the way markets trade , what you see from one angle , is not always what is happening. The question is now will the foreign investors stay in ? as if they pull out we wont be able to buy enough to keep her up. ------------------------------ It takes net buyers to hold the market at any level, the overhead causes her to sink of her own weight if you don't have more buyers than sellers it's not a 50 / 50 deal , now if she has been bought up on margin because of cheaper interest rates , what is the result of that down the road. ------------------------------ Jim