Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (37344)	2/9/1999 6:57:00 PM
From: bearshark	Respond to of 94695

Hi I2: I guess it is obvious now. When the ARMs went above 1 today at 9:50 am that was the first signal of the end. The second was at 10:10 am when the ARMs indicated it wanted to stay there. I think we were down less than 60 points at that time. In an earlier note, I posted this www3.techstocks.com Since about 1/25/99, the NYSE ARMs had been staying under 1 during the day and at the close. It had done that on a consistent basis. It was showing that money was moving into advancing stocks. As long as that continued, there was a possibility of a rally. It did that in the face of awful A/D (issues) numbers. A few days ago, one of my important intermediate resistance lines was penetrated and the INDU was below it for several days. About two days ago, the group of 30 INDU issues (using a volume analysis), began showing more volume on declining issues--not good either. The market is nothing more than a bunch of people acting as one. Today we saw the people that have to find a place for all their money collectively sigh--"I have had enough, I'm outa here." If you watched during the last hour today, you saw these people attempt a rally at around 3:30 pm. However, they threw in the towel at about 3:45 and ran for cover. They had had enough. Tonight we have a chance to see how Asia will react. They peed themselves last night. I wonder what they will do tonight. With any luck, we will have opportunities tomorrow. The market will tell us what they are.