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Correction, make that hourly and daily at cycle low.
BR
----- Original Message -----
From: ROBERT ROESKE <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxx>
Sent: Saturday, August 07, 1999 11:49 AM
Subject: RT_Re: Is there really a CCT?
> Was it crash control or just plane old fashioned technical analysis, or
> maybe the brokerage firms were defending the hourly support line. The
prior
> three times when the INDU tagged the hourly support line, the hourly and
> weekly NSync were at a cycle low just like last week. NSync comes from
> another RTer so code from me is not available. In bull markets the weekly
> NSync spends most of its time above the 50% line. IF the cycles continue
> then the optimum entry has passed. Coupling NSync with Mark Cook's
> cumulative tick historical low last week, and a Bradley low on daily data
in
> this time frame, and congress going on recess, and no reports except the
PPI
> on next Friday, Jerry Favors might just get his 11,000 next week.
>
> BobR
>
> ----- Original Message -----
> From: Dotsie <dbisn@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxx>
> Sent: Saturday, August 07, 1999 10:55 AM
> Subject: Is there really a CCT?
>
>
> > Early Thursday things became so serious, with key stocks down huge
> amounts,
> > that apparently the Fed's rumored "Crisis Control Team" (CCT) was
brought
> > out
> > to produce a market rally. Suddenly, within 45 minutes, the NASDAQ
> > Composite
> > rallied from a loss of 66 points into plus territory. This produced big
> > short
> > covering, and strong gains by the close.
> > I believe that Friday's negative Labor Report was already known to the
> Fed.
> > They were fearful that if a rally were not produced, it would cause a
> market
> > crash on Friday. This way, when Friday's numbers were announced, the
> stock
> > market's reaction was milder, although bonds plunged once again.
> > In the credit markets I hear much more about the potential Y2K problem.
> As
> > I
> > wrote in Bert Dohmen's WELLINGTON LETTER a number of times, it's not the
> > real
> > problem, but the fear and uncertainty which will produce huge
liquidation
> of
> > stocks. The big money will not wait until December to sell. They're
> doing
> > it
> > now. In our PRIVATE PORTFOLIOS program for mutual fund investors we went
> > into
> > 100% cash this week. I recommend you do the same.
> >
> >
>
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