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At 06:21 PM 10/19/97, Harley Meyer wrote:
>>Since the indicators were all very strong a few days ago, it is likely
>>that this decline will be relatively mild. The media's reminicing over
>>the 87 crash is not comforting, but, the technical condition of the market
>>is very different now than it was then. In 87 the secondaries had been
>>weak for months, bonds were weak as well as the dollar. The opposite is
>>true today."
>
>Frank,
>
>I personally don't think we are going to have a "crash". (Unlike my #$%@!!
>computer lately.) But I do think we are over extended & valuation is high.
SO
>we need a correction. And that is all I am suggesting. Now when I say hell
of a
>day on Monday. I am guessing that we could go below Fridays Low. It
depends on
>how many players comeout to sell. It could be a 200 to 250 down day on the
dow.
>We could see tick levels very negative again.
>
>Nobody knows what tomorrow will bring. Hey we might wake up tomorrow & all
the
>exchanges might decide to have tomorrow be a holiday. Just for fun. To
ease the
>tension. Headlines might say. Exchanges closed due to holiday. Forgot to
tell
>investors. (All tongue in cheek of course.)
>
>
>Harley Meyer
>meyer093@xxxxxxxxxx
>
>
:::::::::::::::::::::::::::::::::::::::::::::::::
Harley -
When you use the term "correction," it appears that you and Mike agree!
I believe that this Bull Market has a long way to go before it ends.
Corrections are parts of Bull Markets, so to be expected. Maybe we are in
one. On the other hand, I am not able to say what is going to happen, but
hopefully will understand what is happening (often wrong! <g>) and benefit
from whatever does happen.
-- Frank :-)
High Return on Investment using Technical Analysis
http://www.usinternet.com/users/fbg/
Minnesota Long Distance Canoe Racing
http://www.usinternet.com/users/fbg/mnlong/
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