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<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial;color:blue'>You’re
dating yourself Joe. This isn’t your first bear market is it?
<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial;color:blue'>
<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial;color:blue'>Wish
I could take credit for the chart but it is not my work.
<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial;color:blue'>
<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial;color:blue'>E
<span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial;color:blue'>
<font size=2 color=black
face=Tahoma>-----Original
Message-----
From: Joe Duffy
[mailto:joeduffy@xxxxxxxxx]
Sent: Tuesday, July 16, 2002 2:19
AM
To: realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] John Murphy
notes: the market isn't "cheap"
<span
style='font-size:12.0pt'>
<font size=3 color=black
face=Arial>Remember
Twiggy? She had better shoulders than that. Nice work on the cycles though.<font
color=black>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2 color=black
face=Arial>-----
Original Message ----- <span
style='font-size:10.0pt;font-family:Arial;color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;background:#E4E4E4;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2 color=black
face=Arial><span style='font-size:10.0pt;font-family:Arial;color:black;
font-weight:bold'>
From:<font size=2 color=black
face=Arial> <a
href="mailto:ernie.hill@xxxxxxxxxx"; title="ernie.hill@xxxxxxxxxx">Hill, Ernie
<span style='font-size:10.0pt;font-family:
Arial;color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2 color=black
face=Arial><span style='font-size:10.0pt;font-family:Arial;color:black;
font-weight:bold'>To:<span
style='font-size:10.0pt;font-family:Arial;color:black'> <a
href="mailto:'realtraders@xxxxxxxxxxxxxxx'" title="realtraders@xxxxxxxxxxxxxxx">'realtraders@xxxxxxxxxxxxxxx'
<span style='font-size:10.0pt;
font-family:Arial;color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2 color=black
face=Arial><span style='font-size:10.0pt;font-family:Arial;color:black;
font-weight:bold'>Sent:<span
style='font-size:10.0pt;font-family:Arial;color:black'> Tuesday, July 16, 2002
2:34 PM<span
style='font-size:10.0pt;font-family:Arial;color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2 color=black
face=Arial><span style='font-size:10.0pt;font-family:Arial;color:black;
font-weight:bold'>Subject:<font size=2 color=black
face=Arial> RE:
[RT] John Murphy notes: the market isn't "cheap"<font
size=2 color=black face=Arial><span style='font-size:10.0pt;font-family:Arial;
color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3 color=black
face="Times New Roman"> <font
color=black>
<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><span
class=EmailStyle19><span style='font-size:
10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>Perhaps, you can see the
H&S more clearly in this chart.
<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><span
class=EmailStyle19><span style='font-size:
10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>
<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><span
class=EmailStyle19><span style='font-size:
10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>E
<p class=MsoNormal style='margin-left:39.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><span
class=EmailStyle19><span style='font-size:
10.0pt;mso-bidi-font-size:12.0pt;font-family:Arial'>
<p class=MsoNormal style='margin-left:75.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=2
color=black face=Tahoma><span style='font-size:10.0pt;font-family:Tahoma;
color:black'>-----Original Message-----
From: Joe Duffy [mailto:joeduffy@xxxxxxxxx]
Sent: Tuesday, July 16, 2002 1:20
AM
To: <a
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Subject: Re: [RT] John Murphy
notes: the market isn't "cheap"<span
style='color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='margin-left:75.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=black face="Times New Roman"> <font
color=black>
<p class=MsoNormal style='margin-left:75.75pt;border:none;mso-border-left-alt:
solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3
color=black face=Arial><span style='font-size:12.0pt;font-family:Arial;
color:black'>Its a damn poor example of a head and shoulders. If you were
defining shoulders for a computer test, this wouldn't cut it, else every up and
down swing could be defined as a H&S. You gotta squint to see the
shoulders. <span style='color:black;
mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:79.5pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 6.0pt'><font size=3 color=black
face="Times New Roman"><span
style="mso-spacerun: yes"> <span
style='color:black;mso-color-alt:windowtext'>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3 color=black
face="Times New Roman"> <font
color=black>
<p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;
margin-left:39.75pt;border:none;mso-border-left-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:0in 0in 0in 4.0pt'><font size=3 color=black
face="Courier New"><span style='font-size:12.0pt;font-family:"Courier New";
mso-fareast-font-family:"Courier New";color:black'>
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