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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.93

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Nov 14 4:00 PM EST

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To: Lee Lichterman III who wrote (25639)	9/13/1999 3:54:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

Bu8y programs are trying to kick in but the OEX wants no part of it. Looks like it refuses to go up. Weird. Look out below if theyswitch and hit the sell button instead on the close. I can't get timely quotes on options so I am dead and sitting the close out. My gut says buy puts here but LG will spank me if I make a call based on gut. <g> Looking at the intra day charts, I could make an argument for either bullish or the bearish case. Fib retrace of last cycle and successful test of support.... Multiple attacks on support softening it up for the next leg down, only the first down day in a multiday cycle and descending triangle with lower highs and lows all day. Take your pick, Good Luck, Lee

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