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Re: where will the selling end?



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The selling ends during the next mont and a half.  Normally it would end by
the next to last day of October.   This is not a real bear market.  It seems
a lot like Oct 1987 or last October.

This is a correction.  It is perhaps aggravated by the Y2K hype and recovery
may be a bit delayed.  But I look for a huge rally from mind-December to
early January.  Feb will be its usual ugly self.

I'm in S&P puts until MACD shows a turnaround.

-----Original Message-----
From: BobsKC <bobskc@xxxxxxxxxxxx>
To: Terry S. Smith <tesla@xxxxxxx>; realtraders@xxxxxxxxxxxx
<realtraders@xxxxxxxxxxxx>
Date: Sunday, October 17, 1999 12:43 PM
Subject: Re: where will the selling end?


>Tell me this.. why would you possibly suspect we have ended a bull market
>right in the middle of the most prosperous times we've had in 45 years?
>Unemployment is near all time lows, inflation is nearly
>non-existant, corporate profits are fantastic, growth is showing little
>sign of letting up and the world is at peace with recently bruised
>economies showing signs of recovery.   So, we are going to enter a bear
>market because we took back 3/4 of a point in interest rates that were
>given to help Japan's economy?  Or because xyz company didn't meet earnings
>expectations?  Rediculous!
>
>I saw the last bear market .. it was in 1982 and we had 22% interest rates,
>huge unemployment, stagnant business growth and a white house that lived in
>never never land with Peter Pan.
>
>Don't let the chart/star/stats/history/ or any of the gann/slam/bam,
>wave/mave/shave watchers upset you.  Every one of these 'methods' is right
>half the time and sometimes, several times in a row.  (Just like coin
>flipping).  Keep your head, use it and remain calm.   There are at least as
>many undervalued stocks right now as there are overvalued stocks.   A
>10-20% correction is not a bear market, it is a display of good health in a
>long ranging bull market showing no signs for concern.   Electing a
>democratic congress and a democratic president would be showing signs for
>concern.  (See 1982).
>
>Follow the fundamentals and follow your common sense.   October will be
>over soon and everyone will be talking about how well the market has done
>over the recent past instead of the October horror stories.  In the mean
>time, traders don't care where it goes for more than an hour or two anyway.
> Position traders should be looking at the values being created by the
>Octoberites.
>
>Anyway, I'm off to throw some bones .. I want to see what tomorrow brings.
> :))
>
>Bob
>
>
>
>
>At 01:57 PM 10/17/99 -0700, Terry S. Smith wrote:
>>   &P's  may now begin to trend, the last decline should be helpful
>>determining  where this most recent decline should end. Allow me to
>>explain.  & to what  price we might find a bottom. Happy trading.