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

To: Les H who wrote (11516)	4/19/1999 11:44:00 PM
From: NickSE	Read Replies (1) \| Respond to of 99985

Corzine, Meriwether May Join Forces to Buy Long-Term Capital Management quote.bloomberg.com New York, April 19 (Bloomberg) -- Goldman Sachs Group LP Co-Chairman Jon Corzine, who was ousted as chief executive after his decision to help rescue the troubled Long-Term Capital Management LP, has joined Long-Term Capital founder John Meriwether to purchase the $4.8 billion hedge fund.

To: Les H who wrote (11516)	4/19/1999 11:46:00 PM
From: Les H	Read Replies (3) \| Respond to of 99985

re: markets with strong breadth late in cycle decisionpoint.com

To: Les H who wrote (11516)	4/20/1999 1:26:00 AM
From: Berney	Read Replies (1) \| Respond to of 99985

Les, you raise many excellent points! As I noted to Vitas in the last few days, the market was "toast". As I noted to I2, Jim Hopkins had this issue pegged a long time ago with his head and tail concept and it's available for all to read on the MDA thread. A full 20% of the DJIA are industrial cyclicals, representing a time in our society long ago gone. Another 7% are oils. When the DJIA is going up led by these two groups, it is not a time to rejoice (unless you are short). IMHO the battleground today was at OEX 660, and the field of battle is strewn with casualties. It really is very simple: bull runs do not start when the weekly OEX is 100 points away from its weekly (50) moving average. Just an observation that is not back-tested with any historical numbers. We are in the age of Indexing and he/she who fails to understand this concept is going to roadkill on I-whatever. BWDIK TB