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Guy,
The horrible addition to your story is that Hubbard played:
"Bye, bye Blackbird"
from the city hall speakers as they passed by the building.
Steve Karnish
CCT
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> From: Guy Tann <grtann@xxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: RE: Weekly Pick (long)
> Date: Friday, August 21, 1998 10:21 PM
>
> 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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