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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (11053)4/14/1999 10:28:00 PM
From: Giordano Bruno  Read Replies (1) | Respond to of 99985
 
>>>Did you see the great Abbey J Cohen today? <<< Did you notice CNBC's bold red caption above the telecast? BREAKING NEWS





To: Ramsey Su who wrote (11053)4/14/1999 10:50:00 PM
From: Guy Gordon  Read Replies (2) | Respond to of 99985
 
This chart should scare the bejesus out of us all.
white-crane.com

It's a weekly chart of the DOW 30 Industrials from 1982 to present.
There is a *well* defined channel that we hit the top of today.
This channel top was hit in at these times:

August 1987 - declined from 2750 to 1616 (-41%)
August 1997 - declined from 8300 to 7000 (-16%)
April 1998 - declined from 9300 to 8600 (-8%),
Then climbed to back to 9300 before falling to 7400 (-20%)

Now, I'm not Chicken Little. I'm a long term bull. But this is warning me to get out of this market for while. I think the fundamentals of this market are strong (low interest rates and big cash inflows.) So I don't expect a big correction. I just don't want to be in for even a small one.

In the last few days I've sold HD, WMT, MWD, NITE, PFE, VISX, CYMI.
I'm hoping for a bounce tomorrow so I can sell some others.

Good luck.



To: Ramsey Su who wrote (11053)4/15/1999 9:25:00 AM
From: donald sew  Read Replies (1) | Respond to of 99985
 
Hey Ramsey,

Since you mentioned ABBEY COHEN, wonder if the "3-DAY ABBEY COHEN INDICATOR" will work this time. ggggg

seeya



To: Ramsey Su who wrote (11053)4/15/1999 10:28:00 AM
From: Stephen  Read Replies (1) | Respond to of 99985
 
Well ... I saw A Cohen ... and her unwillingness to answer the questions made her look real suspect or one dimensional .. take your choice. Ron Insana summed it up afterwards when he pointed out that Ms Cohen was a partner at GSachs whose IPO was shortly coming out ... the insinuations were apparent. Good ole Ron !!

Stephen


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