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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.66

+0.2%

Dec 5 4:00 PM EST

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To: James F. Hopkins who wrote (22121)	8/4/1999 7:46:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Jim, i agree, shorts taking profits and J6P possibly being set up for distribution and shorting by the specialists. i have seen clear signs of distribution on every rally so far. i wouldn't be comfortable being long this market, although there is of course always an outside chance for the bulls to turn this thing around IF sentiment continues to worsen without further declines. but this chance seems very remote right now, too many former leaders sailing through supports or making ominous reversals on high volume. regards, hb

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