stox

james withrow withrow21 at webtv.net
Wed Aug 12 22:42:44 PDT 1998


The technical stock analysts look for a head and shouders as a great predictor of a bear run. I never got very adept at placing the shoulders on a stock chart, but looking at today's Wall Street Journal, I'm guessing that 9000 would be the place. 9000 was a resting place for the Dow Jones just before the run-up and my uninformed guess would be that if the market runs up to 9000 again and then poops out before breaking above it, the technical analysts are going to be suggesting sell orders and that itself could cause the Big Drop. If the market pushes past 9100, though, we'll probably be ok for a while longer. IMO.

If Greenspan really prefers a small sell-off, he's playing with fire. There's either confidence in the market to continue it's run or there's no confidence. It's not something to be fine-tuned.

James in Philly



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