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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: Berney who wrote (22655)	8/11/1999 2:04:00 AM
From: bobby beara	Read Replies (2) of 99985

Bernie, you ignored my line in the sand, which was broken, making the inverted H&S on the oex a failed breakout, not only on the price charts but on the breadth oscillators. The market to date has never seen a breakout on such a weak oscillator reading (80), this last break to new highs captured peak bullish money (a TON of it on soft) in a trap, now they are all trying to exit - not so gracefully -g- all money managers are way overweight on high cap techs at average 100 x earnings. I quoted a few contrary indicators over the last month, like Kudrow on McGlouthlin group who said Bush should just put his campaign finance money in hi cap tech, Dow Theorist Russell, who in a fell out of my chair comment, said you have to be bullish here on Friday before 4 of july weekend, and Armstrong who in his missive at about the same time said "the u.s. market is not a bubble at this time" - this is the guy who was warning "beware the ides of march" >>>I'm elated that OEX 665 held<<< it's in the bull's court, show me the money.

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