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nwinski wrote:
>
> Intel55@xxxxxxx wrote:
> >
> > In a message dated 97-07-30 06:50:05 EDT, BIIRE4U@xxxxxxx writes:
> >
> > << Well here's egg on my face...nix the 29th as the top....I found missing
> > data
> > on my calculations from July 3rd short session and that thru off my
> > calculations by several days...
> >
> > The correct day for the drop in the S&P's to begin is TUESDAY Aug 5th...
> > So relax for the rest of this week...
> >
> > Mistakenly,
> > Bob Yost >>
> >
> > hmmm not to be meanspirited.....but COME ON!!!!!!!!!!!!!! NOBODY can pick a
> > top. No missing data , no nothing will pick the exact top, no esoteric
> > calculations. NOBODY wants to be short for to long , they get killed. This
> > market is not going to ring a bell and say ok then this day is the exact top.
> > THis market has MUCH further to go. Sure it will decline one day or correct,
> > but it will be back. A bear market is still a lil ways away.
>
> RT,
> This reminds me of one time when I was trading on the CBOE floor.
> This was during the '75-76 bull phase. Everyone joked that there
> wouldn't
> be a bell at the top. Then one day, when the planets and the charts
> indicated that the market was getting very close to a top, in the
> middle of the day, for no explicable reason, the trading floor bell
> rang.(Clang! Clang!) Eveyone stopped trading for a moment. Then within
> a few minutes of that, the market topped and starting going down for a
> sigificant correction. This is even stranger than you may think, because
> the CBOE is supposedly only a derivitive market, meaning it just follows
> what New York does. I don't know what synchronicity could have occured
> to ring the CBOE bell in the middle of the day and top the stock market
> based in NY, but I sold short when I heard the bell and went home that
> day very happy.
>
> Ringingly,
>
> Norman
P.S. Watch out for those fire drills on the NYSE floor, too. They often
correspond to changes in direction for the market.
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