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Re: [RT] Joe Granville comment!



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Here are a couple of pictures on the  DIA  .
 
Looks like a zone where a temporary reversal might
appear.  First picture shows a 21 segment average of
swings over the last 2 years and what is anticipated.
 
Second shows the outside and middle of a 7 segment
average of same data
 
Clyde
----- Original Message -----
From: Ben
Sent: Wednesday, September 21, 2005 09:29 PM
Subject: [RT] Joe Granville comment!

we had today more new low than new hi in nasdaq and almost same new hi and low in nyse,
my work suggests a temporary low tomorrow,
after making a lower low,
 
we should close up nicely
 
however, if we can not close above 1225   in 2-3 day than next is 1180,
To: ARCH CRAWFORD
Subject: Tuesday, 9/20 Hindenburg Omen Crash Signal from K. Gammage & Joe Granville comment!
Importance: High

Excerpts From Granville FAX

Sept. 20, 2005 :

 

The Dow was up 20 just before FED announced 11th rise in rates.  Dow closed down 76.11 at the 10481.52 level as it broke support at 10,520.00.

Transports fell -8.30, breaking to a new low.

179 stock highs & 86 new lows, the highest number since April 28.

 

The True CLX fell 9 to -344, a new low.

The Early Warning CLX fell 4 to -339, 3 away from the low.

 

Conclusion:  Now we are ready for a new leg down in the 2005 bear market.

 

Joseph Granville

 

 


From: Kennedy Gammage [mailto:kgammage@xxxxxxxxxxxxx]
Sent: Tuesday, September 20, 2005 7:01 PM
To: Mr. Kennedy Gammage
Subject: Tuesday, 9/20 Hindenburg Omen Crash Signal

 

Per the Wall Street Journal Online statistics for Tuesday, 9/20, we have a Hindenburg Omen Crash Signal. We have 78 New Lows (versus 167 New Highs) which, divided by the total number of NYSE issues traded today, 3442, and the result multiplied by 100, we get 2.266. That is greater than Jim Miekka's number for a Hindenburg Omen, 2.2, and implies the strong likelihood of a major market decline within the next few days or weeks. Remember that multiple signals are by no means unusual -- I remember once having three in a week and a half. If no major decline has materialized within 30 days after the last Omen occurrence, the signal can be considered void.

Based on its very good (albeit admittedly NOT perfect) track record in the past, I strongly suggest that protective action be taken. On our mutual fund switch Hotlines, we have suggested 100% positions in the SHORT Rydex or ProFunds funds.


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