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1. TJ take note here as I'm going to give another prediction. I think the
correction is not over yet
but I compelled to follow Acampora as he was dead right with his bear
forecast in early August.
He said the Dow would probably test 7400 again in October and then
trend higher through out the year.
2. I think the Dow is going to remain very choppy again following Acampora
advise but with higher highs and higher lows. Now as
blood in the street Cummings believes going into the second week of October
the market is going to shake the trees for the buyers of
Sept. bounce. The second wave of selling will be violent to
the down side similar to this recent move down. This time the fed will cut
rates and the buying will be immediate and last for several months.
3. Dow theorist might be right for a correction off the present move if
feds cuts rates at their next meeting Tuesday as some
predict, I don't believe they will cut just yet. I do not believe the Dow
theorists are right because i don't think you can have a bear
market and declining interest rates at the same time.
Unless its preceding a depression and I doubt that as well.
Robert
At 06:01 PM 9/23/98 -1000, Ron Augustine wrote:
>
>Don't mean to detract from the current bashing fest, but I was wondering if
>anyone might be interested in commenting on their perspective of the current
>Market?
>
>1. Largest correction in quite some time -- over or not?
>
>2. Dow theorists say the bear has arrived based on Daily and Weekly signals
>and they are waiting for the Quarterly Signal shoe to drop in 7 days --
>valid or not?
>
>3. Market has been contained by a very well defined by an ascending trading
>channel with four accurate tops and bottoms since Sept. 1 -- today's Up
>Volume (9/23) was impressive -- Breakout to new highs, or another fizzle?
>
>Any and all comments welcome.
>
>
>
>
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