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To: NickSE who wrote (32084)4/9/1999 4:26:00 PM
From: J. P.  Respond to of 86076
 
RE: your VLE chart

Well, from the 5 minute chart the VLE looks like a breakout, but the stochastics would suggest it doesn't have much legs. If you look at the daily chart, it has broken out from this little base, but isn't even close to the highs of January.

I will agree that the upside could be explosive if the market broadens out. I think the risk in bottomed out small to mid cap value plays is not that great. But the larger cap stocks are still stretched, and are primed for a sharp selloff, even though mania may drive them to nosebleed heights. My longer term outlook does not allow me to buy in.

Bullishness is out of control right now, and bulls are all over SI waxing wise, lecturing the more cautious.