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

To: Haim R. Branisteanu who wrote (38490)	3/16/1999 8:45:00 AM
From: donald sew	Respond to of 94695

To: +steve susko (18650 ) From: +donald sew Tuesday, Mar 16 1999 8:43AM ET Reply # of 18658 To: +LG (8243 ) From: +donald sew Tuesday, Mar 16 1999 8:34AM ET Reply # of 8253 INDEX UPDATE ======================================== For the overall market, there are CLASS 1 SELL signals with the buy-in at todays highs. There are many BULL and BEAR debates going on right now as to whether we go higher or not once 10,000 is surpassed. The BULLs are saying that the BEARs are losing out on this runup, and the BEARs are saying basicly the opposite, especially when a pullback starts. Here's my point - there's money to be made on both sides. On a pullback go long the indexes/futures/momentum leaders, and when the market is overbought go short other stuff. There are plenty of stocks dropping like flies. I have been watching many stocks to short during this 700 runup and in most cases these non-momentum stocks are only moving up slightly or are clearly producing LOWER HIGHS. Guess what is going to happen to them when the market does start to pullback. The main issue for investing is to make money, not to have BULL & BEAR debates and to guess how much higher the DOW is going up. Going both long and short strategicly in this market will win. It is clear that we are in the overbought region, so lets get a conversation going as to which sectors will drop the hardest once the forthcoming pullback starts. I think the PAPER PRODUCTs, CHEMICALs, and some HiTECHs could take a good hit on the next pullback. Even though fuel prices are rising, the AIRLINEs just had an injection of good news so they may not drop that much if the pullback starts immediately. Hope we can get some conversations going on this topic. seeya