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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (22784)	1/25/1999 9:28:00 PM
From: J.T.	Read Replies (2) \| Respond to of 50167

BKX has schizophrenic split personality as one minute she looks like she is ready to take off 2 closes beyond 815, then evil personality wants to close below 799.twice... NOT.. C getting thru the #'s today bodes well back to 815 and beyond. Broader positive market action and SPX ability to close above 1230 a nice plus.. TRAN, COMP, NDX et al for best showing in last several days. Weds thru Fri very sloppy last week and we need good follow thru tomorrow. A/D still weak although this gap narrowed into the bell. The narrowness of this rally or any future advance will not be meaningful without the market broadening out. The longer the lagging negative A/D Index goes on, the higher the probability of a correction advancing an additional 10% - 15% from present #'s.. My target of SPX 1,290, DOW 9,770 by end of Jan (let alone Feb and beyond) is not possible without full fledged participation. Some negative signals include low OEX p/c ratio, bullish Investor's Intelligence Advisory #'s above 60% (bears only 29%), reversal of high-low index to negative, A/D Index below DW magic 176,000 and reversing NYSE Bullish Percent on the edge of turning bearish. For all of January, Dow and SPX are up a measley 1%, BKX and TRAN slightly negative, with major advance in COMP 7.5%, SOX 10% and NDX 8%. OUT. JT