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Guy,
I would like to be the "fly on the wall" when you conference
your dad and brother. You guys sure have it wired in (it must
be that early diet of Hungarian blood sausage...it nourishes the
brain). Not necessarily from this list, but I'm hearing from a
lot of people who insisted that we would "bounce" last
week...that we will now bounce off this little free fall
(nothing like being emotionally attached to a position). I
think you're right on with the next stop at around 7200 - 7400
(my work produces 7320 and then a trip to 6970). Remember,
we're just warming up for the big one. Most major implosions
happen 55 days (fib #) after the first snap. If that's the
case, two weeks from now we'll all be complaining about not
selling this current level. Look for resistance in the DJU at
around 76.80 - 77.00.
Steve Karnish
CCT
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> From: Guy Tann <grtann@xxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: RE: Globex S&P
> Date: Monday, August 31, 1998 9:04 PM
>
> 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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