TECHNICALS stink all AVERAGES, GRAPHS : LUSENET : TimeBomb 2000 (Y2000) : One Thread Go to the bottom of the chart and you can get ANY graph of all kinds of technical indicators and averages. Today's action reeked of active PPT intervention in the last 1/2 hour.

to see that , go to

There you will see two GIF charts, one for the Nasdaq INDEX,;the other for the DJIA. At 3:30 P.M. , the DJIA was net ZERO.

Look at the new highs/new lows, a/d line, a/d daily, DJTA, DJUA. ALL are a NON-confirmation of the DOW. Take a good look at a BEAR market making its presence seen and felt. Look at the graph of number of stocks below their 200-day M.A.

Institutions cannot prop up this dog forever...maybe a few more days. That still puts it within the window of 55-58 days of the market peak. Day 58 would be Thursday. In 1929, the DJIA collapsed with a p/e of "only" 26 or so. Today, it is into the 30's.

DELL, one of the big horses in the NASDAQ (p/e 160), just announced after the market closed monday that it will suffer 3Q from Taiwan.

Anyone know when the US trade deficit is announced? We already have the CPI tomorrow.

-- profit_of_doom (, October 18, 1999


Yeah, yeah, you make everything so doggone complicated. Look, it's got to be real simple, otherwise Joe Sixpack won't know what to do.

The rule is: If the DOW (and don't bring up those OTHER things like the NASDAQ) is above 10,000, then EVERYTHING IS JUST FINE! Ok? Understand? Comprende?

-- King of Spain (madrid@aol.cum), October 18, 1999.

"Today's action reeked of active PPT intervention in the last 1/2 hour."

Who is the PPT?

-- no talking please (, October 18, 1999.

PPT = Plunge Protection Team

-- (, October 18, 1999.


Today saw a "short covering" rally on the DJIA because there is also the CBOT version of the Dow that trades as a futures contract that does draw extra action that IMHO makes the DOW stand further out and above the other indices. Thus, a short covering rally in this index get's exaggerated just as it does in the media. While I can't rule out some form of collusion, I suspect what you saw in the last half hour was influence from the CBOT futures boys who did not want to remain short overnite. I can't blame them.

The oscillators were showing mixed signals going into Monday trading. Most of my favorites were showing a continuation was most likely but there were telltale signs that the market could rebound on the short term. I've not examined the oscillators for the long term after todays actions, but I'd bet that they remain technically bearish. IF you'll recall, I expected more of a drop on Thur and about what we got on Fri. I figured odds were good for a -150 to -250 drop for Monday BUT I also stated a real but I though slim possibility that the market might rally early...might even close up +50 points. I was a little off center in that regard, but I really didn't see it being the crash Monday that others feared.

Today's action reaffirms my earlier suspicions that the market is still under the the control of the TPTB to let this market slowly stair-step downwards for awhile. They want it down gradually to let it cool off. Odds are good that they'll succeed. Meanwhile, they'll do the same with Gold. Gold, technically is on the verge of resuming a bear market status...but I'm not saying it will...just that its on the edge of a precipice. TPTB are in a position to knock it off if they so wish. We'll see how they decide to handle that.

If there's one word of caution I can pass along...don't let the emotions of the market's get to you. Enjoy the fun, but don't figure anything too wild one way or the other. Steady as she goes.

-- Dick Moody (, October 18, 1999.


Past masters...

Strange how the "rest of the world" last night hit the red,

and lo and behold

NYSE ups a few measlies...

funny that...

-- Andy (, October 18, 1999.


The world was playing follow the leader ... NY is the leader right now. Remember, Britain and Germany didn't "red" out much and were positive before NY opened. No surprises there. Today was just a short-covering rally as I explained above. Gold, however, is in trouble, technically, as I explain above. TPTB are still calling the shots in Gold and the DOW.

-- Dick Moody (, October 18, 1999.

Just another sucker's rally...

-- Patrick (, October 18, 1999.

There are some great charts at

I follow the S&P more than the DOW, But the DOW looks even worse! The S&P simply rallied to the broken Head and Sholders Line. It may get above it some, but the breaking of a Head and Sholders formation is %80 reliable. Something unexpected will probably set this off into a nose-dive.

-- Gregg (, October 19, 1999.

The European markets went neutral (from down) because the PPT was jamming the S&P futures before the open - period.

Checking the internals, as noted above, will show anyone with eyes to see that this was one of the sickest 100 Pt. + days ever. The close today was manipulated, pure and simple. Whether that manipulation was a result of PPT, collusion or whatever is irrelevant. The end is at hand. The market is rotting away on a daily basis, from the inside out. The last to fall will be the major avgs., e.g. DOW & Nasdaq.

At this point smart traders will use the sound-bite avg. upticks as shorting/'puting' opportunities.

From a trading standpoint one should 'rejoice' in days like today. I would love to see the DOW advance like this for another 3 days while the insides rot. The ultimate collapse will be more spectacular and the DOW puts I buy tomorrow will be cheaper.

The next 1 - 5 trading days will be fascinating to watch. The Bull market is over, the fat lady is singing, but most refuse to believe what they hear. I love it.

-- Me (, October 19, 1999.

Something unexpected?

How about Dell pre-announcing earnings trouble?

-- Me (, October 19, 1999.

Yep P-O-D...I watched it too.Really amazing. I think at one time it was down 60 or so but the last hour seemed it was on autopilot and in overdrive.

My question is who or what is/are are the PPT and HOW DO THEY DO IT????

BTW, POD, I have been reading the book you suggested "Creature of Jekyll Island". Thanks for the referral. If they pulled that deal off (The Fed conspiracy), I don't question the existence of a PPT or their awsome power.

Mr. Moody.. would appreciate your thoughts as well


I'm "Short" the Jan DJX at 96 just as insurance for Y2K but I'm not a Day Trader (been there done that). Sure thought today was really strange though....Seemed like someone didn't want the 10,000 Psychological barrier to be violated.

Just a thought...if the market falls to low, won't this very adversely impact the CBs portfolios and reserve requirements compounding the problems they could have with gold...a double whammy. I bet there's a lot of pointy headed wizards working 24/7 trying to unscrew this mess without sinking the ship and I bet Mr Greenspan will get his marching orders from the Fed...of course we'll need an interpreter here tomorrow to tell us what the hell he said.

I digress...HOW DO THEY DO IT?????

Makes me want to play golf tonight in the rain!!!

-- Larry (, October 19, 1999.

I must concur with statements above: this was the sickest looking uptick in the DOW I've ever seen. The wild ride is not a good sign for the bulls. On the other hand, since almost everybody on this forum is either out of the market (and probably hoping to feel good about it at some point) or shorting the market in some way (gold, Prudent Bear Fund, etc.), it's like a euphoric death watch. I must confess that when my brother and I managed to get my dad to clean out a ton of equities in his IRA about two weeks ago, we officially became card-carrying vultures. Go Dell! (I sold mine at $53/share just to "vulch" a little bit more.)

For those who enjoy reading bearish material, I highly recommend buying a copy of Barrons every Saturday. Abelson (the editor) is determined to cheer this market down to reality.

Best regards Dave

-- Dave (, October 19, 1999.

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