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

To: William H Huebl who wrote (39209)	3/31/1999 8:30:00 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 94695

Bill, Just reading an interesting article on the 4½ year climb to 10,000. Took the Dow 8 weeks to sprint from 4000 to 5000, 4 weeks to hit 6 thousand, 13 weeks for 7,000; but the lag widened to nearly 25 weeks before it hit 8000 and 25 for 9,000 mark. Well 10,000 was reached in about 20 weeks. They were concluding that the "Real Top" to this market was back in April 98 at the high around 8250...."when a hudge percentage of US-based stocks made their highs. Since then the median loss of all stocks has been 22% after the market carved out a top last April...." The article went on to say that 10,000 was a selling area for computer guided traders....they believed that with any significant 'Bad News' this market would lock into a serious correction. Especially without any narrowing of the advance/decline line. The author was suggesting that 10,000 needed a few weeks to test the markets resolve to move higher and then colapse if it could not be sustained....maybe earlier. Each of the 1000 barriers produced modest sell-offs before moving on; all except 9,000 mark which dropped 2,000 points in July98. With any correction I would think the 8750 mark would be an easytarget. Is there life for the Dow after 10,000? Will the 10,000 asperation once a goal, become a now an obstacle? The answer should come soon. FWIW...I grew up in Annaoplis...sailed at Sevren Sailing Club, fresh oysters on the square and still have some connections to the town. Nice Place. My Best Chip