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<DIV><FONT color=#000000 face=Arial size=2>What Ira says has some merit,
information has to be turned into knowledge from which action can spring.
Considering that the market is a probability action, for Tuesday Ron's stats
give me encouragement to look for a long OEX entry in the zone of 789 to
790.5. By "looking for" I mean the advances and declines, up
volume and down volume confirm a pivot in the making and it means taking one or
more bullish postures....outright at the money call, bull call debit
spread...buyone sellone, or a put credit spread or combinations thereof.
It would also help if the cboe call and put trins were showing positive
divergence as the zone is entered. Should price not have accompanying
support in the zone then 785 would be the next entry target. Tuesday's
have a probability of starting out weak and ending strong and also starting out
strong and ending weak, i.e. "turnaroundtuesdaysyndrome". Many
talk about end of month seasonality. Personally I have been burned too
often trying to be long puts in the last week of the month regardless of
technicals because of the sudden reversals within the last 3 to 4 trading
days. Timewise the best time for the reversal would be Tuesday afternoon
as it would fit into the neural pattern.</FONT></DIV>
<DIV><FONT color=#000000 face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>good luck trading,</FONT></DIV>
<DIV><FONT face=Arial size=2>BobR</FONT></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR><B>From:
</B>Ira Tunik <ist@xxxxxx><BR><B>To:
</B>bobrabcd@xxxxxxxxxxxxx
<<A
href="mailto:bobrabcd@xxxxxxxxxxxxx";>bobrabcd@xxxxxxxxxxxxx</A>><BR><B>Date:
</B>Monday, July 24, 2000 6:34 PM<BR><B>Subject: </B>Re: [RT] Re: Gen:
Market Outlook<BR><BR></DIV></FONT>Right now the Dow is down 9.87% from its
high. The Nasdaq is down 20.23% and the S&P is holding up the best, down
only 4.68%. The interesting thing is that with these conditions only
34.6% of stocks are above their 10 day moving average and 57.3% are above
their 50 day moving average. All three indexes are below their 10 day
moving averages. These are also very interesting facts, but not
one of them will make you dime in the market. Ira
<P>BobR wrote:
<BLOCKQUOTE TYPE = CITE> <FONT face=Arial><FONT color=#000000><FONT
size=-1>And, the PCratio series has two out of three trending into
bullish territory. They still need to finish their trend and
reverse, could be any day.</FONT></FONT></FONT> <FONT
face=Arial><FONT size=-1>BobR</FONT></FONT>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px"><B><FONT
face=Arial><FONT size=-1>-----Original
Message-----</FONT></FONT></B> <BR><FONT face=Arial><FONT
size=-1><B>From: </B>Ronald McEwan <<A
href="mailto:rmac@xxxxxxxx";>rmac@xxxxxxxx</A>></FONT></FONT>
<BR><FONT face=Arial><FONT size=-1><B>To: </B><A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx</A>
<<A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx</A>></FONT></FONT>
<BR><FONT face=Arial><FONT size=-1><B>Date: </B>Monday, July 24,
2000 5:02 PM</FONT></FONT> <BR><FONT face=Arial><FONT
size=-1><B>Subject: </B>[RT] Gen: Market Outlook</FONT></FONT>
<BR> Attached is a gif of the "NorPrOV" (Normal
Probability Plot of Oex /Vix Price Change Residuals). As
indicated by the large yellow dot in the lower left quadrant, this
indicator has just entered the "Buy Zone". This indicator
has only registered 5 other readings lower then todays in the last
50 days. All of which were good indications of short term reversals
of the OEX to the Up side. disclaimer stuff:this indicator is
proprietary (so don't ask)this is not a trading recommendationthis
is for informational purposes onlyit only represents one of an
infinite number of market
outlooks. </BLOCKQUOTE></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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