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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (2225)	12/17/1998 11:12:00 PM
From: John Pitera	Read Replies (3) \| Respond to of 99985

Stockmarket Cycles update for Thursday, December 17, 1998. U g l y, that is the technical picture for the overall market after today's action. Here are a few facts: Today the Nasdaq 100, the high cap list of the Over the Counter Composite closed at a new all time high close. The Nasdaq 100 consists of the Microsofts, Dells, Intels, Cisco Systems and Oracles of the World. By the way, those five stocks represent 56% of the total capitalization of the Nasdaq 100. At the same time the Nasdaq 100 was hitting new all time highs, there were more 52 week lows than highs on the Over the Counter Composite. It is a sobering statistic and was also true on the New York Stock Exchange with 61 new highs, and 68 new lows. On December 8 the S&P Cash went to a new all time high, intra-day; it then declined into December 14. As of today, the S&P Cash has retraced over 96% of the decline from the December 7 close to the December 14 close. At the same time, the daily advance-decline line which also declined from December 7 to 14 has retraced 12.8% of its decline. It continues to show the horrible internal deterioration in the stock market and although it cannot rule out a new high, it argues against it strongly argues against a substantial advance starting from these levels. The market advance grows more and more narrow and it seems very likely the market will soon pay the price. Interesting Times, John

To: John Pitera who wrote (2225)	12/18/1998 12:45:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Hi John; I find the Economics that come out of Princeton informative enough to read, but caution one to take them with a grain of salt. While they get things better than half right, they often go to extremes. I also find numerous mistakes. RE > Basis the S&P 500, the last week of November has produced a very strong rally that has stopped just shy of a perfect double top with July 20th. this may be considered a small mistake, or one of omission, but the rally they are talking of is not all that high, as all things are relative in a global economy, and a dollar index will show you right fast we have not come close to a double top. They are collage boys & I would expect better from them. Another one is re While the European markets have crashed far greater than the US market in October, now that's pure horse shit. quote.yahoo.com European markets have eaten our lunch ever since NOV 97, and except for the UK & Switzerland who are about tit for tat with us, the rest have flat out beaten the U.S. market.. while we may think this last rally is good if we look at a chart and don't compare it with the drop in the value of the dollar, how could people at Princeton over look such a basic fact. I thought they were supposed to be sharp,, but then not long ago I found out it was Princeton who the Japanese primarily looked to for their economics, indeed most of the problems Japan has had are the results of ideas, models and advice they got from Princeton. -------------- don't have a big collage degree of any kind but if I had one from Princeton I sure wouldn't tell any one about. My degree is from FFM, ( Fulton's Fish Market ) , and handicapping at race tracks. <G> And BTW tracking the WEBs gives you a dollar adjusted idea of what's going on, Since OCT both Japan and Hong Kong Have rallied stronger than we have quote.yahoo.com Had you bought either web when GreenSpam, cut rates the last time, you would be about 10% better off dollar wise than had you bought the S&P. Jim

To: John Pitera who wrote (2225)	12/18/1998 2:28:00 AM
From: Jon K.	Read Replies (1) \| Respond to of 99985

John, I was very impressed by Mr. Armstrong's article; I researched for more articles and found PEI web site. You probably know this site already. But since there are wealth of useful information here, I thought our MDA friends might benefit from this site, too. (If someone posted this already, sorry) pei-asia.com peicommerce.com peicommerce.com Thanks for posting that article. (Do you have any more?) You will know the bubble is about to pop when all moms and pops from your neighborhood are borrowing fund from credit card to buy internut stocks. <gg>