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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: r.edwards who wrote (14643)	6/12/1999 10:49:00 PM
From: Roebear	Read Replies (1) of 99985

r.edwards, In retrospect, for educational purposes only<g>, I have followed Merck since your 5-22 post, it appears Merck has broken three necklines. Don Sew's caution was well put. This is the first time in awhile I have had a chance to take a good look at the market. I see H&S, broken necklines and 50D looking to break down through 200DMA's all over the place. I've been mostly oils the last few weeks with some oil fabs and NG stocks, and just a bit of NEM, while I was taking a home improvement sabbatical. Now I must decide if the market decline will take oils down with it and whether it will rally gold stocks. I am tempted to protect my profits (home improvement has = portfolio improvement<VBG>) by going to cash. I am very well positioned for the oils however. For example RIG is 40 % of my portfolio at 23 basis. Any opinions?? Regards, Roebear

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