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<x-html><html><head></head><BODY bgcolor="#FFFFFF"><p><font size=3 color="#000080" face="Book Antiqua"><i>Hi Guy,<br>If you know where I can get daily data (including the Open) <br>for the DOW, I can do some homework and may have an answer for you.<br>Good trading!<br><br>Efrain R Portales<br>Fort Worth<br>----------<br>From: Guy Gordon <<font color="#0000FF"><u>gordon@xxxxxxxxxxx</u><font color="#000080">><br>To: <font color="#0000FF"><u>metastock-list@xxxxxxxxxxxxx</u><font color="#000080"><br>Subject: Pick the Bottom!<br>Date: Monday, August 18, 1997 1:34 AM<br><br>Anybody care to have a go at picking the bottom of the current market<br>correction?<br><br>The Spring '97 correction started in March when the DOW crossed below<br>its 50-day MA at about 6840. My trendline was the same as the 50-day<br>MA. A month later it bottomed at 6356, a drop of 484 points, or 7%.<br>The 200-day MA was at 6247 that day, which is pretty close.<br><br>For the last three months, the DOW has risen so steeply that my<br>trendline is well above the 50-day MA. It broke my trendline at about<br>8060, and the 50-day MA at 7876. <br><br>If this correction goes on for one month, it will hit the 200-day MA<br>around Sept 8 at about 7200. That would be an 11% correction.<br>Note that I am calculating these percentages from where the DOW<br>crossed my trendline, not from the peak. <br><br>But I don't think it will last that long. (Too much money out there,<br>and everybody wants to buy on the dips.)<br><br>I don't have any mathematical way to judge where the DOW will find<br>support. (Maybe I should as Murray Math!) So I'll just take a WAG:<br><br>I think the DOW will fall further Monday, then rise some towards the<br>end of the week. Then a week from now it will make a double bottom<br>and the correction will be over. Low: 7400.<br><br>That's my opinion today, and I reserve the right to change it<br>tomorrow!<br>----------<br><br></p>
</font></font></font></font></font></body></html></x-html>From ???@??? Mon Aug 18 09:49:33 1997
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From: "Richard Estes" <dick@xxxxxxxxxxxxxxxxx>
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Subject: Re: Pick the Bottom!
Date: Mon, 18 Aug 1997 10:55:53 -0500
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<P><FONT color=#000000 face=Arial size=2> 7324 on 9/22.
who knows?</FONT></P>
<P><FONT color=#000000 face=Arial size=2>We should watch stocks we are in. But
watch getting into new ones long.</FONT>
<P><FONT color=#000000 face=Arial size=2>Richard Estes </FONT></P>
<P><FONT color=#000080 face="Book Antiqua" size><I><FONT color=#0000ff><FONT
color=#000080><FONT color=#0000ff><FONT color=#000080><BR>I think the DOW will
fall further Monday, then rise some towards the<BR>end of the week. Then a
week from now it will make a double bottom<BR>and the correction will be
over. Low: 7400.<BR><BR>That's my opinion today, and I reserve the right
to change
it<BR>tomorrow!<BR>----------<BR><BR></P></FONT></FONT></FONT></FONT></FONT></I></BODY></HTML>
</x-html>From ???@??? Mon Aug 18 15:29:32 1997
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From: "Jim Greening" <JimGinVA@xxxxxxxxxxxxx>
To: "Metastock List" <metastock-list@xxxxxxxxxxxxx>,
"Guy Gordon" <gordon@xxxxxxxxxxx>
Subject: Re: Pick the Bottom!
Date: Mon, 18 Aug 1997 16:38:36 -0400
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Guy,
Today may have been it <G>.
Jim
----------
From: Guy Gordon <gordon@xxxxxxxxxxx>
To: metastock-list@xxxxxxxxxxxxx
Subject: Pick the Bottom!
Date: Monday, August 18, 1997 2:34 AM
Anybody care to have a go at picking the bottom of the current market
correction?
The Spring '97 correction started in March when the DOW crossed below
its 50-day MA at about 6840. My trendline was the same as the 50-day
MA. A month later it bottomed at 6356, a drop of 484 points, or 7%.
The 200-day MA was at 6247 that day, which is pretty close.
For the last three months, the DOW has risen so steeply that my
trendline is well above the 50-day MA. It broke my trendline at about
8060, and the 50-day MA at 7876.
If this correction goes on for one month, it will hit the 200-day MA
around Sept 8 at about 7200. That would be an 11% correction.
Note that I am calculating these percentages from where the DOW
crossed my trendline, not from the peak.
But I don't think it will last that long. (Too much money out there,
and everybody wants to buy on the dips.)
I don't have any mathematical way to judge where the DOW will find
support. (Maybe I should as Murray Math!) So I'll just take a WAG:
I think the DOW will fall further Monday, then rise some towards the
end of the week. Then a week from now it will make a double bottom
and the correction will be over. Low: 7400.
That's my opinion today, and I reserve the right to change it
tomorrow!
----------
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