To: Challo Jeregy who wrote (14502 ) 2/22/1999 10:58:00 PM From: james ball Read Replies (2) | Respond to
No Challo, I just couldn't see the questions in your statement. Yes Jan is a client of ours and takes the professional report which is why she was long in Sep. due to our change in direction. You have to think about some things when comparing the Dow Jones to BP. Ask yourself the question of why the Dow Jones is at a new high, almost, and the percent of stocks on buy signals underlying the NYSE is only in the 42% range. Why if the Dow Jones is at a new high the Percent of stocks above their own 10 week moving average had declined, not gone up, from above 70% to 29%. Why when the Dow JOnes is at a new high the advance declien line is nowhere near a new high, on a sell signal and going down not up. Why the Dow Jones is up 18% from Jan. 1, 1998 and there are over 23,000 cumulative more decliners than advances during that same period. Why is the Bllish percent making lower highs as the Dow JOnes makes higher highs. Is the Dow Jones what you should be focusing on or should you focus on your Dow Jones which is the stocks in your account. Was there anything to be learned in 1998 when the averages went to new highs without the NYSE Bullish Percent gaining any net new buy signals during that time and then watching those very averages cave in? Did these indicators guide you properly through 1998 and do you have faith they will in 1999? Challo think some of this through in a quiet room. REally, think about this quietly and unemotionally. Then go back to your game plan and work it without equivocation. It need not be P&F as every method works in the right hands. You must find the plan that relieves you from being "antsy" and stick to it. Nothing is perfect, not any method, but at sometime you will have to find some church to attend on Wall Street. P&F won't fail you but it apparently does not alleviate your emotion. Think through the above, and then think through our plan and hopefully we'll see ya in church. Tom
