-=> Bob Muirhead wrote to Graham Comitti <=- 
-=> On 02-07-95 about State of the Market <=-

BM>Hi Graham

BM>Have just looked over the charts of about 40 stocks I follow.  The
BM>33-  day moving averages of the majority bottomed in the Nov - Jan
BM>period  (most in Dec).  We might have seen the turning point of the
BM>next up leg  IMO.  My current estimate is we will get to 2070 by YE,
BM>with 20%  probability of seeing 2300.

Hi Bob, lots of stocks seem to have hit a bottom and I think our market 
is trying to run up, but it keeps getting knocked on the head, ie the 
treasurer saying some action needs to be taken to reduce govt spending 
etc. but we wont do anything now but look at it in the May budget etc. 
resulting in lost confidence in our share/money market by overseas 
investors...Kobe earthquake & its effect on the Nikkei etc.... the Dow 
still hasn't had a good fall and weekly chart indicators like RSI & MACD 
indicate its only having a weak try to bust 4000....but the Dow 
Utilities turned up in Dec/Jan and it usually leads by about 6 weeks or 
so, so maybe.....But I'll mainly stay out of the market except for a few 
short term trades until the break out above 30wk ma range

BM>I saw your comment in another msg re banks and ANZ, CBA.  Sounds like
BM>you are a trader.  Are you familiar with Insight Trader by any
BM>chance?   I am having a few problems turning off alarms and also
BM>getting  printouts.


I do a little trading just to try and learn how the market etc works and 
ultimately to make some money.......I haven't had anything to do with IT 
so can't help there, I use Supercharts.  



Regards, Graham from Sunbury

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