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

To: Enigma who wrote (34531)	11/27/1998 6:41:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 94695

decisionpoint.com E, if you notice that we have made a little indecision triangle on the oscillator after the top on Monday. We did the same thing last week after the Oscillator went down near the zero line. Minor change readings (less than 5 points) are almost always followed within 2-4 trading days of big moves in the major averages (1% or more). Since the OEX went to new highs on Monday and now is retesting the base on light volume and the market mo is very strong here, I believe we are in for some more on GZ's panic buying next week. The IIX internet index has a projection H&S break to 590 and it's at 535 today. I think the rally has a little farther to go for exhaustion. To keep the bull case intact, the bulls need to take all the indexes to new highs and retest on week volume. Sentiment is not as good to indicate tops as well as bottoms and we may need a real buying exhaustion to counteract the two selling exhaustions on 8/31 and 10/7. I was looking over internets to short and I did notice that RNWK - real networks had a major volume day GAP down recently that broke it's uptrend line and now is trying to retest that line. It did the same thing in July/August and did a humpty dumpty from there. The apples are not quite ripe yet, for pruning. bb