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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 683.63-0.3%Dec 8 4:00 PM EST
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To: Boplicity who wrote (81900)9/21/2001 4:23:36 AM
From: Psycho-Social  Read Replies (1) of 99985
 
Market Bottom Approaching:
My indicators tell me that we're getting close to a major bottom. By the way, re mutual fund cash flows, they're a contrarian indicator. Also, I've found that statements from fund company reps are consistently misleading when matched against actual reports from the ICI, AMG Data and Trim Tabs. The worse the outflows, the more you'll hear fund execs crow about the lack of redemptions and the staying power of the long-term investors. The fact is, stock fund flows have been deteriorating for months and the outflows are approaching levels consistent with major lows.
One missing ingredient: Bearish magazine/newsweekly covers. I'm hoping we get 4 to 6 as the October issues come out during the next couple of weeks.
Right now it looks like the Nasdaq low will be in the 1400-1450 range, although we may need considerable base building as you stated.
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