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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (13527)	1/23/1999 4:48:00 PM
From: SE	Read Replies (1) \| Respond to of 44573

To ALL (except OJ): exchange2000.com The wavemaster has spoken once again. -Scott PS - Whether he is right or wrong matters not too much....this stuff is fun to read and try and figure out. It's like a big puzzle! You should see me trying to put the count on a printed chart....it is quite humorous.

To: GROUND ZERO™ who wrote (13527)	1/23/1999 8:50:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

GZ, I have studied the S&P500 today and have some rough results that I would like to share with the thread. There are 43 companies that make up over 50% of the index by weighting. Those 43 break down very roughly as follows: Consumer Products (broad class - CMR) 12.95 Banking (BIX) 5.12 Drugs (HCX or DRG) 8.9 Telecom (XTC) 6.43 Oils (XOI) 3.74 Networking (NWX) 2.46 That encompasses nearly 40% of the index and that does not include the stocks that would be included in the above categories that fell outside the 43 studied stocks making up 50% of the index. Only the XTC is on a buy signal for my system. It has strongly outperformed since its bottom in Sept adding 54%. The NWX has doubled since its bottom in OCT. The HCX and CMR have added 28% since the OCT and Sept bottoms respectively. Oils and banks have performed, but less than the others. 200 day moving averages and current values BIX 670 647 XOI 447 413 NWX 360 425 XTC 756 986 HCX 682 716 CMR 509 534 Both the HCX nad CMR have very bearish MACD divergences on the daily charts and should continue lower. That right there is 20% of the S&P500. NWX and XTC are due for a serious breather being 18% and 30% above their respective 200 day moving averages. There is another 9% of the S&P500. The XOI, well, what can you say. Looks to me like it is going to continue lower. The BIX looks sick at best. Damn, I wish I was short. This does not look good right now based on the index study. MSFT, GE, MRK, XON and INTC take up the top five slots and make up 12% of the index. The only one on a buy signal is XON. MSFT is 54% above its 200 day moving average and has increased 89% since the low. GE has increased 50% since the low. MRK 40% since the low and is very weak right now on the news from Friday afternoon. XON has increased 23% since the low and INTC 112% since the low in JUNE and it is 33% above its 200 day moving average. From what I see, it looks to me like sell the rallies ought to be the order for the time being, not buy the dips. It looks ugly out there. Be Careful. -Scott

To: GROUND ZERO™ who wrote (13527)	1/24/1999 10:13:00 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 44573

Good Morning GZ, DJIA -- Due Date -- 28th Thursday . iqc.com . Off the Nov98 High M-tine is about 8968 This seems about the strongest fork for the week 25-29