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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (13276)	1/31/1999 10:22:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 34811

Morning Chartseer... nice analogy<g>...so you think i'm a pro huh?..:>} obviously i can see the coming storm, or let's say, Hurricane...i see all the indicators too... my time frame is short term though...riding this fabulous wave up up and away...while statistics are nice, sentiment is more powerful... right now the public's mindset is buy buy buy, anything and everything, they're feeling wealthy & happy...sorta like me<g>... the fundemental's are all bullish, while a lot of the technicals are bearish..not unusual, we saw this last Apr-May when the NYSEBP gave a sell signal and the markets went to new highs in July...i don't have the same feeling here... we are already way overbought in a narrow range...the leaders will exhaust themselves at some point...however if the RUT begins to roll, then this expanded rally will continue longer..we need to watch that index... with excellent earnings, albeit from lowered expectations, and lots of splits from the big caps this rally should cont. thru Feb...as always i'll have my one good eye on the big boy... now CS, don't think for one minute i don't "listen" to the P&F stuff...but i'm a trader, and love the action, up or down... in fact i broke down and "BOUGHT THE BOOK", man i was in a fog...i'm better now thank you<g>.... all in all, with the help of P&F and this thread i made back all my last years losses from The Oct Lows to now, and made some sensational profits on 8-10 trades that even surprized me??? so i'm cautious but trading the trend...when it turns i;ll be ready to play the other way... CS bet we do make new highs even tho your numbers say no.....:>}