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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: Haim R. Branisteanu who wrote (18371)	6/24/1999 1:36:00 AM
From: Jorj X Mckie	Read Replies (1) of 99985

Haim, Yes, could you say more? Just because the only thing that you see is the concern about the stock price, does not mean that the respective management of CSCO and LU is not paying close attention to the company business. Your statement is opinion, and does not have any basis in fact. As to CSCO and LU both companies are grossly overvalued and their respective management are more concerned about the company stock than about the company business. They are no different than sale side analysts - do I need to say more??<G> So that I keep this message on-topic as far as market direction. Using P&F charting the internal indicators are still showing short term negativity but the long term trend still appears to be up. The DJIA reversed down today setting a lower top. There is pretty strong support at 10450 if the downtrend continues. The naz has given several buy signals recently and has a nice series of higher lows and higher highs. It is however, bumping against resistance at 2600 which could cause some weakness in the short term. JXM

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