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Strategies & Market Trends : MDA - Market Direction Analysis

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To: StockOperator who wrote (9915)	4/6/1999 2:49:00 AM
From: Lee Lichterman III	of 99985

Good points on those stocks. ( I Can't believe I never post a "T" chart but instead keep it locked away in a dusty telecom folder) . I know on this thread we are supposed to keep gut feels to a minimum but though there is some TA to back up my feeling we are going higher, it is mainly a gut feeling and FA. We are less than 2 weeks from early earnings release companies posting results. I feel that once we clear the warnings time frame, as those companies report, we will explode upwards on lowered expectations. As you pointed out, there were some resistance points taken out that were important and The DOW for instance is right up against my line for tomorrow. There ae still some bull flags that haven't broken up yet and anything to do with the PC sector has had estimates lowered so much, I could turn a screw driver in my garage for two weeks and make their earnings expectations. On the other hand, as we have discussed at length, the internals are horrible. Today's record close on all the indexes still had more new lows than highs and though there will be a delay in the new highs, there were still an aweful lot of new lows for a 170 point up day. I really think nothing is going to hold this market down (at least the indexes and high flyers). I feel we will rally hard like last July then as David said, we drop later and harder than if we would have let the air out now. Note today's rally stocks, the heavy weights again. The funds are masking the removal of funds by propping up the heavy weights as Jim has pointed out so many times. The Oil index shot back up again as did the CRB slightly but we ignore all inflationary data in this new paradigm. <ng> My short term signals are ready to peak but there is more room in the mid term indicators so I am not ready to risk thermo-nuclear velcro ripping trading yet. When those little red dots start appearing all over my screen though, I will change my name from "Befuddled" to the "Streaker". <ggg> Good Luck and enjoy your time away from the screen. Lee

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