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Strategies & Market Trends : MDA - Market Direction Analysis

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To: donald sew who wrote (24911)	9/5/1999 4:53:00 PM
From: Trading Machine	Read Replies (1) of 99985

Don, Me thinks the Emperor has few clothes! Berney and I were talking Friday and I just offered the opinion that the market looked like a "specialists" market. Sure they gaped it up on Friday in response to the futures market and the news, and sure some buyers went in and held it up, but I seriously doubt if the specialists had not gaped the prices up that we would have seen a 200+ point day. It would be interesting if we could subtract out the gap prices and look at the market with the rest of the normal buying/selling and see where it "really" is. Having said this, I had the indicators I watch, (OEX) come into a trend line Thursday and were prepared to bounce off it like a champ which is what it did. I am just disappointed that I was not in it (sigh) but I also refuse to "play the news". I have been whumped too many times to try to out-guess the news, good, bad or indifferent. Now from what I read, everyone gives a bullish bias to the week after Labor day. So I guess the consensus is that the market is going to run away up next week, well I'm from Missouri. It may indeed run up but some how I just don't think so. I know I will be looking for shorts vs longs. gg Anyway just a thought, CU TM

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