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Dr. Roffey,
Would you please explain your comments?
1. "World wide there was a surge for the past year in the secondary stocks
and a move away from blue chips."
My data indicates that from 11-19-96 thru 11-19-97 the S&P is up from
742.16 (202.43 points), the OEX is up from 716.49 (189.56 points), and the
DJ Ind is up from 6397.60 (1327.14).
2. "Unfortunately the world is still basically bullish on the markets."
Why is it unfortunate? Why should people NOT be bullish? My charts
show UP. Why not simply read the data and let the market tell it's
direction rather than attempt to predict? I am asking for the rationale as
to why it is unfortunate.
3. "Problem. Yes we are to have a correction."
Has this not been so since the beginning of time? I have a chart US
stock market since 1928 hanging in my office. I look and see the direction
is up.
I see that missing the move is more costly than not being in the markets.
Al Taglavore
> From: C. Roffey <ancliff@xxxxxxxxxxxx>
> To: metastock-list@xxxxxxxxxxxxx
> Subject: Market
> Date: Thursday, November 20, 1997 1:19 AM
>
> Re Harley's comments and the Ralph Amapora lecture. The analysis is
> correct. World wide there was a surge for the past year in the secondary
> stocks and a move away from blue chips.
>
> Unfortunately the world is still basically bullish on the markets. The
true
> fear has not yet begun to bite. That is one reason why there has to be
> another major down trend, to shake out the stale bulls.
>
> Problem. Yes we are to have a correction. But to what???
> The move since 1992, since the 1987 crash, the full move from 1974, or to
> the whole recovery from 1940?? What are we going to correct? This where
> Elliott helps.
> Regards
> Dr Clive Roffey
>
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