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[RT] Re: Buy Signal Given on Nasdaq

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<DIV><FONT face=Arial size=2>The rally by the Dow Jones that occured today and 
that I  I referred to in the post of 9/20 was very weak and not the strong rally 
that should result from an extremely oversold condition . This coupled with the 
fact that the Dow Jones failed to give a buy signal to confirm the buy signal 
given on the Nasdaq and the overreaction on the Intel warning&nbsp;does not bode 
well for the market. A waterfall decline that could carry into next week is a 
very probable scenario.I was very carefull in highlighting the importance of a 
buy signal by the Dow Jones to validate the Nasdaq signal.</FONT></DIV>
<DIV><FONT face=Arial size=2>The Intel Warning will be the straw that will 
terminate ? the slide that started on 9/1/00.I call the shots here as they are 
and not as I would like them to be.It's ironic I went long intel 
today.</FONT></DIV>
<DIV><FONT face=Arial size=2>Regards,</FONT></DIV>
<DIV><FONT face=Arial size=2>Dom</FONT>----- Original Message ----- </DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> 
  <A href="mailto:domenick@xxxxxxxxxxxx"; title=domenick@xxxxxxxxxxxx>Dom 
  Perrino</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A 
  href="mailto:realtraders@xxxxxxxxxxxxxxx"; 
  title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Wednesday, September 20, 2000 7:58 
  PM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> [RT] Buy Signal Given on 
  Nasdaq</DIV>
  <DIV><BR></DIV>
  <DIV><FONT face=Arial size=2>A buy signal was given on Nasdaq as of close on 
  9/19/00. QQQ(Nasdaq 100 Trust) confirmed buy as of close 
  today(9/20/00).</FONT></DIV>
  <DIV><FONT face=Arial size=2>Dow Jones has not yet given a buy signal. A close 
  by the Dow above 10825 is one of the necessary elements.&nbsp; .So watch for 
  that figure. If my other indicators confirm I will post the buy signal on the 
  Dow if and when it comes.One of my proprietary indicators of the Dow still 
  does not look good. The Dow is extemely oversold and a good rally could ensue 
  at any time.Act accordingly.&nbsp;</FONT></DIV>
  <DIV><FONT face=Arial size=2>A buy signal on Nasdaq not accompanied by abuy 
  signal on the Dow Jones calls for extra caution even if one trades Nasdaq 
  only.</FONT></DIV>
  <DIV><FONT face=Arial size=2>Remainder: Although the signals rendered by 
  various technical indicators are quite reliable. We have to remind 
  ourselves(yours truly included) that no indicator(s) are infallible nor can 
  they predict the markets with certainty.Therefore we must all proceed with 
  caution.&nbsp;</FONT></DIV>
  <DIV><FONT face=Arial size=2>Dom.&nbsp; </FONT></DIV></BLOCKQUOTE></BODY></HTML>

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