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could not say it better myself
p,s
you should cc this to gannghost
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>; <MedianLine@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 24, 2002 8:51 AM
Subject: Re: [RT] GEN - change of pace
> My work is suggesting that we are entering a new era ... it's called
> systemic risk. Bottom line is that time/price expansions are accelerating
to
> the downside with many indexes reaching the extremely rare 425% ratio. The
> Ru2000 and Sp400 were the first to reach these levels, however the other
> major indexes are now catching up with the NYSE well beyond the 262% level
> which is generally considered extreme. Virtually all critical support
levels
> under 900 in the S&P 500, have failed to hold (most breaking within hours
of
> being reached) with price now approaching the critical 750 level. The
stock
> market is telling us that it sees far more than a simple realignment of
> stock valuations.
>
> The banks are always involved in an systemic crisis and the fact that the
> major banks (especially JPM with tens of trillions in derivatives on the
> books) are now under attack should not go unnoticed. So too are corporate
> bonds ... this as credit problems in the lower tranches of CBO's infect
the
> higher rated upper tranches. Given the total size of debt and derivative
> positions, it is unlikely that the Fed and Treasury can intervene to the
> degree which would be required to halt a systemic meltdown, although they
> will likely attempt to slow it.
>
> Bottom line is that bottom fishing is now an extreme "sport" ... do not
> believe what you hear and see on the media.
>
> Earl
>
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <MedianLine@xxxxxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, July 24, 2002 4:58 AM
> Subject: [RT] GEN - change of pace
>
>
> > Years ago there was an article in Stocks and Commodities magazine titled
> > "TEI" or "Trend Exhaustion". It is a ratio of new lows divided by
> declining
> > issues. The fingerprint of a low is when the ratio makes a peak, backs
> off
> > and then makes a lower peak. It seems to work better on price bottoms
> than
> > on tops. The attached chart shows the current state of affairs.
> >
> > enjoy,
> > bobr
> >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
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>
>
>
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>
>
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