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Al
Last I looked, it was up 17.50 at around 8PM PST (or whatever time we're on
here in LaLa land <G>.
We might get a dead analyst bounce here. Went back and looked at the RSI
for 1987. Went down to 9! We're currently at 21. Still have to hit 17 and
then 9 to match what happened in 1987. Our first target is still 7200-7400
range. Will work on and post our calcs in terms of where this might go.
There could be a retracement of up to 60%, but I think the direction is
still down, at least for now.
Like that other post here, that if we assume this bull move started in 1982
(makes sense to me), we can drop to 5500 (40% retracement) and still be in a
long term bull move up.
I'm not looking for a housing collapse until next year. Look back... 1979 -
1989 - 1999???
As a good friend says, the real estate market is crazy here in So. Cal.
They are currently building 5 $3MM spec houses in our little town. My
realtor buddy just sold a home in East Manhattan for $1,020,000. A regular
home on a regular lot. Nothing special. It might have had 4,000 sq. feet.
A home on the strand just sold for $5.2mm. Hardly hit the market. Sign
went up and it was sold in 5 days.
Is this what we have to look forward to?
Regards
Guy
Guy
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Al Taglavore
> Sent: Monday, August 31, 1998 9:32 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: Globex S&P
>
>
> Are we aware that the S&P is trading up 1240 on Globex at 9:25? This is
> a strong move after the pasting it took today. "V" bottom ala '87?
> Comments?
>
> Al Taglavore
>
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