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<DIV><FONT color=#000000 size=4>Fogot that some at RT like to see AIQ
updates.</FONT></DIV>
<DIV><FONT color=#000000 size=4></FONT> </DIV>
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Lee Clayton DDS <<A
href="mailto:dds2@xxxxxxxxxx";>dds2@xxxxxxxxxx</A>><BR><B>To: </B>Lee Clayton
DDS <dds2@xxxxxxxxxx><BR><B>Date:
</B>Tuesday, December 09, 1997 8:46 PM<BR><B>Subject: </B>A look at the markets
(12/09/1997)<BR><BR></DIV></FONT>
<DIV><FONT color=#000000 size=4><FONT color=#ff0000><STRONG>At the close of the
day Dec 9. 1997.....What will tomorrow bring? Let's look at the
tape.</STRONG></FONT></FONT></DIV>
<DIV><FONT color=#000000 size=4></FONT> </DIV>
<DIV><FONT color=#000000 size=4>
<P><B>TECHS DECLINE & SPX STALLS AT OLD HIGH</B> Tuesday's sharp selloff in
the Nasdaq pushed that index back below its resistance barrier at 1640 and its
50 day average. Could SPX be showing a head and shoulders top? It it
is, we have a ways down to go (DOWN). A 9 point plunge in Oracle (ORCL) to
the lowest level since April hurt the techs and came at a bad time for the
S&P 500. Volume on ORCL was 172 MILLION shares to make it the most heavly
traded stock on any one day in the history of the stock market!
National Semiconductor (NSM), Advanced Micro Devices (AMD), Texas Instruments
(TXN) and Intel (INTC) were among the day's worst losers. The Semiconductor
(SOX) index is nearing its October low. In addition, Digital Equipment (DEC)
lost 2 ¾ (42) and is threatening to break its October 28 low at 41
¾. Compaq (CPQ) lost 2 points on heavy volume, thereby keeping it below
chart resistance near 66. Not good for TECHS and the NASDAQ!</P>
<P><B>S&P DANGEROUSLY OVERBOUGHT</B> The S&P 500 has backed off from its
October 8 peak near 983, with a daily stochastic overbought reading over 90
before turning down. The Dow Industrials and the Transports are backing off from
their October highs near 8150 and 3370 respectively. Only the safe haven
utilities gained on the day.</P>
<P><STRONG>GOLD:</STRONG> Gold tumbled another $5.00 today to another new
low. As Alvin says, "It can't go any lower!", but it has been
for 6 months or more!</P>
<P><STRONG>SO WHERE WERE THE WINNERS?</STRONG> General Electric (GE) was
the Dow's top gainer and rose within a point of a new high. Merck (MRK) closed
over 105 for the first time since July and is nearing that month's peak at 108.
Coca Cola (KO) (Malone's Favorite) closed unchanged at 63 9/16. Coke has slipped
back below its October peak at 64, but is sitting on its 200 day average near
63. Any decisive close below 63 would negate last week's upside breakout. </P>
<P><STRONG>AIQ is still on a Double Sell Signal</STRONG> although neither is
confirmed. DOW closing lower today broke back below the trendline drawn
across the highs over the past several months indicating we may still be in a
trading range and on the top side at that! Dow came off the Upper
Bollinger Band and this suggests we may be headed to test the 21d MA around
7800. Advance/Decline line also suggests the upper end of a trading range. WAL
(30-70) and US (14-86) both are bearish and offer no support here if selling
starts.</P>
<P>If you have profits......tighten stops and see what happens....maybe
nothing...maybe something more significant! Market will dictate and
rule. </P>
<P>Thursday is the Sherman 20 Club meeting. We have been about 103K in
security value for a couple of weeks. Let's hope we can hold $100K thru
Thursday and break that sentimental barrier!</P>
<P> </P></FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Dec 09 20:50:09 1997
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Date: Tue, 9 Dec 1997 20:43:23 -0800
Reply-To: kalalex@xxxxxxxxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "keivne shin" <kalalex@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Ross Hook
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Status:
I've read brief explanation about Ross Hook or Fractal Hook in some
article.
And I tried to find those hooks on charts myself,,,but failed miserablely.
I'm thinking about buying Joe Ross's book,,,,"trading Ross Hoo",,but in the
mean time,,
is here anyone with experience on locating these hooks on charts and kind
enuf to elaborate a little in detail??
I'll (or We'll) take it gratefully.
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