MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.56

-1.5%

Nov 20 4:00 PM EST

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To: pater tenebrarum who wrote (25520)	9/10/1999 7:21:00 PM
From: Cathedra	Read Replies (2) of 99985

Thanks for giving thoughtful support to my gut feeling. Did you see today's put/call ratio; deplorable, again. What happened to PAIR today is another sign of the times. Pairgain got an upgrade from Dain Rauscher Wessels today and surged 22.6% on 10 times average volume. Doubtlessly, many of the buyers hoped that the brokerage was wired and was readying to sell next week when PAIR preannounced upside earnings surprise. PAIR did preannounce after hours a major surprise, but in the opposite direction. It was reported that, on the Instinet, PAIR lost all of today's gain and some more. I will hazard an uneducated guess that the market will correct 3% next week, just in the hope of catching a reaction from the wonderful technicians on this thread.

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