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Steve
I remember Camp Dearborn and the then very popular, politically incorrect,
Mayor Hubbard. When the Freedom Riders left Detroit for the trip South they
had to pass through Dearborn. When asked what he thought about that, Mayor
Hubbard replied that he had no problem as long as they didn't stop or
litter. Wonder what people would think about that remark today?
Geoffrey isn't Dr. Kervorkian's lawyer, is he???
Regards
Guy
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Steve Karnish
> Sent: Friday, August 21, 1998 9:36 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Weekly Pick (long)
>
>
> Guy,
> Very cute candlestick "hammer" today and you gotta love those
> fibonacci arcs and retracements. Was he really an 11th century
> Italian mathematician? I know Dino Fibonacci, from Dearborn,
> he's the guy who dated Madonna before Dennis Rodman. Also, did
> the "Motor City five finger discount" and swiped some stuff off
> an internet site (see attachment: MARKET CRASHES). My lawyer,
> Geoffrey Fieger, says: "If it's on the internet....it's public
> domain". Glad your're back up.
>
> Steve Karnish
> CCT
>
> ----------
> > From: Guy Tann <grtann@xxxxxxxxxxx>
> > To: metastock@xxxxxxxxxxxxx
> > Subject: RE: Weekly Pick (long)
> > Date: Friday, August 21, 1998 5:44 PM
> >
> > Steve
> >
> > Been off line for about 4 days with a down computer, but
> here's a note from
> > my dad from 8/18:
> >
> >
> > <<Checking my figures the dow recoverd 39% and the SPI 32%
> which is normal
> > could even recover some more.>>
> >
> > Like you thoughts about the market genius and their 'buy and
> hold' and 'buy
> > on pull backs' scenerios. Our thoughts are that the NASDAQ
> will drop 50%
> > BEFORE they realize they're in a bear market.
> >
> > We had a sell signal for Wednesday at the close, but our
> contrary indicator
> > was too high to execute (said the market action was a little
> too strong that
> > day to short at the close). Leads me to believe that we're
> still going to
> > see some choppiness in the market, before it really drops.
> >
> > Regards
> >
> > Guy
> >
> > > -----Original Message-----
> > > From: owner-metastock@xxxxxxxxxxxxx
> > > [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Steve
> Karnish
> > > Sent: Friday, August 21, 1998 6:48 AM
> > > To: metastock@xxxxxxxxxxxxx
> > > Subject: Re: Weekly Pick (long)
> > >
> > >
> > > Dan,
> > > I know we have discussed this on the phone, but I thought I
> > > might share this with the group. The following approach has
> > > returned steady profits (10%+/month) during the last 18
> months.
> > >
> > >
> > > A. Analyze the indices and discern market direction by
> applying
> > > the tools that you are most comfortable with and have been
> the
> > > most reliable.
> > > B. Screen for: "most volatile" issues.
> > > C. Initiate positions in issues that have topping or
> bottoming
> > > patterns that imitate the indices.
> > >
> > > The degree of success will be predicated on one's ability to
> > > apply the proper tools to the indices and issues. Sound
> simple?
> > > Yes. Will people take issue with this approach? Probably.
> > >
> > > I attended a dinner party last night at, Washington State
> > > University, and a professor argued with me about how
> "yuppie"
> > > 401k money would fuel the market to "infinity". This same
> > > individual received the following email from me on 7/21
> > > (reprinted in part):
> > >
> > > "We've finally approached an area that has me concerned in
> the
> > > Dow. All my technical work is pointing to the downside
> since
> > > Friday and I knew it would take a few days to set up. That
> > > brings us to yesterday, today, tomorrow...or very, very
> soon.
> > > Look out below. A correction would do this market good."
> > >
> > > This prof would rather argue and defend his positions, than
> > > analyze and be flexible (he's one of these recent "market
> > > geniuses", created in the last 8 years, with the buy and
> hold
> > > strategy). It's tough to argue with someone who's used to
> > > making 30% for the last couple years. My, how quickly the
> > > market regurgitates 10% "chunks". We're going down hard in
> > > September. After this "consolidation", which started on 8/5,
> is
> > > completed, look for topping action in the indices and
> > > immediately start screen for securities with the largest
> > > volatility. If they also have technical topping
> patterns...sell
> > > short. You ain't seen nothing yet.
> > >
> > > Steve Karnish
> > > CCT
> > >
> > > ----------
> > > > From: HARELSDB@xxxxxxx
> > > > To: metastock@xxxxxxxxxxxxx
> > > > Subject: Re: Weekly Pick (long)
> > > > Date: Thursday, August 20, 1998 11:47 PM
> > > >
> > > > In a message dated 98-08-20 03:44:11 EDT, you write:
> > > >
> > > > << Pretty hard to support your contention, Dan -- most
> hedge
> > > funds recognize
> > > > and capitalize on some stocks going up while others go
> > > down to achieve
> > > > their superior performance.
> > > > Livermore (Lefever) and crew faced simpler opponents in
> > > simpler times.
> > > >
> > > >
> > > > JMHO Bob >>
> > > >
> > > > I have given this a little more thought and I believe I
> have
> > > come up with a
> > > > probablistic argument that I think is difficult to refute.
> > > >
> > > > 1. A positive beta means that a stock moves in the same
> > > direction as the
> > > > market.
> > > > 2. Most stocks have positive betas. (I found 588 stocks
> in a
> > > database of
> > > > 11,000 that have betas less than or equal to zero.)
> > > >
> > > > Conclusion: A trader that takes a position in a stock in
> the
> > > same direction
> > > > as the market is moving has a higher probability of
> success
> > > because most
> > > > stocks move in the same direction as the market.
> > > >
> > > > Please post if you see a flaw in my thinking.
> > > >
> > > > Dan
> > > > Pocatello, ID, USA
> > >
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