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

To: James Strauss who wrote (14840)	3/3/1999 12:47:00 AM
From: Gottfried	Read Replies (1) \| Respond to of 34811

Jim, how do you know about the increase in Japanese gamblers? Maybe gambling is perceived as a better way to make money than the Market? <G> Also, since the wrongness of magazine covers has been widely known for decades, why don't the magazine editors do something about it? They're no dummies, after all. But they do have a time lag between conception and publication. Gottfried

To: James Strauss who wrote (14840)	3/3/1999 8:40:00 AM
From: james ball	Respond to of 34811

Good info Jim. I think the Magazine covers work so well because they must write about what is on Mr. Jones mind today. That is what sells. The market always looks ahead and discounts. It's a discounting mechanism. When it becomes clear to a Time Magazine Editor that some subject will sell his magazine that subject has already been discounted, probably 18 months earlier in the market. Like when Greenspan came out in October 1990 and said, "America, we are in a recession and about to go to war with a Mid Eastern power...". Mr. Jones said, "Oh no this is terrible, I better sell my stocks" exactly when the NYSE Bullish Percent reversed up from 18% on its way for a fantastic rally. Greenspans news was discounted in October 1989 when the NYSE reversed down to defense from above 70%. Tom