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First of all, Arch need to be congratulated. Many months ago he predicted
that Aug 11 would be turning point. As of this second (knock on the wood)
it still a turning point.
Secondly, here were that astrology may come handy. My work (how noble it
sound, I should copyright those words) showed a bottom between Aug 9 and
Aug 13. Arch pinpoint Aug 11. History (back to 1900) shows that those solar
eclipses were 100% up days in US and UK markets. So if you expect the
bottom you may choose the day before such solar eclipse. (Of cause you have
to know enough astronomy to differentiate among different kinds of eclipses).
As of is this a turning point? Call me back about 3 month later and I will
answer it with my uncanny abilities to read charts (or is it still called
"tape reading")?
Alex.
At 10:33 AM 8/12/99 -0500, bo turger wrote:
>Hey RT's,
>Remember Joe Granville and the beginning of this bull market in 1982?
>He was THE stock market guru at that time. It was the reversal of his
>market call to sell that is credited (at least by some) as triggering this
>unprecedented bull move we are in.
>So...why was Arch Crawford on CNBC anyway?
>Good trading,
>Bo.
>
>>From: "RAY RAFFURTY" <rrraff@xxxxxxxx>
>>Reply-To: "RAY RAFFURTY" <rrraff@xxxxxxxx>
>>To: "Real Traders" <realtraders@xxxxxxxxxxxxx>
>>CC: "Real Traders" <realtraders@xxxxxxxxxxxx>
>>Subject: Arch Crawford's 1000pt prediction
>>Date: Wed, 11 Aug 1999 16:17:12 -0400
>>
>>Hi RT's,
>>
>>This morning on CNBC, Arch Crawford predicted a 1000 (yes 1000) point drop
>>in the market some time in the next two weeks. I don't follow astrology,
>>but do respect Mr. Crawford (and Norman). If a 1000 Dow points is about
>>equal to about 100 OEX points and the OEX at about 675, 100 points would
>>take it to 575. I checked a Sept 580 OEX Put, it is at 2.5. This
>>surprised the hell out of me since I expected it to be about 1/2. The Aug
>>580 Put is at 3/16, but it expires on 8/20/99 and might expire before the
>>predicted move.
>>
>>Looks like someone is hedging or speculating on his prediction.
>>
>> Good luck and good
>>trading,
>>
>> Ray
>>Raffurty
>
>
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