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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: donald sew who wrote (22673)	8/11/1999 12:00:00 PM
From: TWICK	Read Replies (1) of 99985

It absolutely confirms it IMO. Think about it. You can't watch CNBC (J6P's favorite daily soap opera) for more than 10 minutes without hearing an analyst saying this is nothing more than a summer correction. What are the catch-phrases again ? Oh yea... "the summer doldrum", or "the brokers are in the Hamptons", or "We expect one more rate hike this August". Then think about all those new online "investment" accounts that have been set up in record numbers since the Oct. rally. J6P will not allow himself to miss this chance again. J6P will not panic again like he did last Fall. Selling after a 10% correction is out of the question. "No way will I miss that chance again". Question is what will happen when the correction goes past that 10% barrier ? What happens if the DOW slips past 10,500 ? What if J6P will not see a rally after the Fed raises the rate one more time because there is talk on the street of another possible hike in October ? J6P is expecting one more last party this Fall, then a Y2K break until January. My question is how much of a force J6P trader will have once this golden opportunity stares him in the face ? After the margin calls, run-up credit cards, exhausted cash reserves, substancial losses since May, little short interest in the stocks that drive J6P to spend more and buy higher, J6P may not have enough buying power to make much of a difference and may lose interest quickly. Just my thoughts. Twick

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