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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: donald sew who wrote (26030)	9/16/1999 1:22:00 AM
From: Lee Lichterman III	Read Replies (1) of 99985

Glad to hear you have an over sold reading also. I thought my computer freaked out as I too have an extreme short term signal for the OEX, SPX and DOW but the NASDAQ needs to sell off more as I do not have a signal there yet. I honestly don't trust this signal so I seriously doubt I will try it and will just wait and see what happens. On the other hand, I nixed my plan on buying more puts tomorrow on the OEX and am glad I covered and went flat near the close today although I wish I had held another 10 minutes <ggg> Another bad sign I saw, although I had no sell signal on it, MSFT had a bearish engulfing candle today along with a few other stocks. Not looking real good for the home team <g> I have to say I was amazed that the market internals didn't look as bad as I expected and the charts were not overly bearish either. While the sector charts showed the bad day, the index charts that I have signals on are near or on supports. If I had a few to blow, I might actually take a long shot here but since I don't I won't <GGG> Running behind tonight and since I won't trade tomorrow, I am not even sure I will get around to seeing what they did to the OEX cobtract weighting today. If anyone has already doen so, I would love to see it posted. Good Luck, Lee

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