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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (18077)	11/30/1998 7:08:00 PM
From: dennis michael patterson	Read Replies (8) \| Respond to of 42787

FAVORS GOING LONG!!!!! Sheeeeeeesh Jerry Favors Analysis - Monday, November 30, 8 p.m. Last evening we discussed the extreme readings we were seeing in the Put/Call ratioes and that readings in this area had for the most part occurred near at least short term tops in the Dow. We discussed the fact that the 3-Day Put/Call Ratio had reached its lowest reading in at least the last 4 years, which was as far back as we went for last evening's update. Prior readings even near last Friday's reading tended to occur near at least important short term tops. At the lows today the Dow was down as much as 216.53 points,and we closed at the lows of the day. In our last newsletter and on this hotline we stated that the Bradley Indicator called for rising prices from October 28 plus or minus 2 days into November 24 plus or minus 2 days. The Bradley then called for falling prices into December 2 plus or minus 2 days. So far the Dow has reached a high of 9380.20 on a print basis on November 24 exactly and so far has fallen 263 points to a low of 9116.55 on a print basis today, November 30. Now the Bradley calls for a low near December 2 plus or minus 2 days and then a rally into December 11 plus or minus 2 days. The Bradley has been so accurate this year we feel it could be a serious mistake to ignore its forecasts from here. It suggests a low in the next day or two and then a rally into December 11 plus or minus 2 days. With the Gann Quarterly Chart still pointing up and the Bradley calling for a low near December 2 plus or minus 2 days we have to conclude higher prices are coming,even if the Dow sells off significantly tomorrow. We still have projections calling for 9631 plus or minus 225 points intraday in the Dow. If the Dow rallies above 9458 intraday those projections will be confirmed. A rally above 9381 on a print basis in the Dow will suggest a test and probably rally above 9458 intraday in the Dow. Bottom line we look for a low in the Dow in the next day or two and the start of another rally.That rally should carry the Dow to new highs,into our upside projection. We will go long tomorrow if the Dow reaches 8992 with a stop of 8573 in the Dow. We may be a day or two early but we will take that risk. Stocks on our recommended list include: DAL, GE, ABT, BMY, AVT, LTD, MOT, BBY, MRK, Microsoft and Adobe.