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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (3988)	3/7/1999 12:45:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 5676

B* IBM broke it's downtrendline and held, so for now the bearish picture is on hold. I believe we are in a repeat of last year where the tech indexes had a bearish formation into mid June and the oex had a sideways consolidation, which was a bullish flag. <<<<Tom Dorsey,the p&f guru,is talking about how weak the a/d line is.......<<<<<< I think too many people were talking about it and cratered it out at the October low, especially that sphincter guy -g- The McCllelan Oscillator has been below zero for the last couple of months, this is a lot of compression and selling pressure, money managers have been largely on the sell side and now have cash for a breakout. The 2nd trip across the zero line is the buy spike. I had thought that we had a failure buy spike two weeks ago when we peaked across the line and reversed and that along with other indicators led me to believe that we would break down here, my failure in this analysis is to be patient and watch for a second cross. I think all these stock splits going on now are perfect chum bait for the ducks to feed on with all their newly opened etrade accounts and ira contribution deadline. the sharks are waiting for the ducks to get fat and happy and then they'll feast. quack!