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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 681.44+1.6%Nov 10 4:00 PM EST

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To: Challo Jeregy who wrote (27061)9/24/1999 12:36:00 PM
From: pater tenebrarum  Read Replies (1) of 99985
 
Challo, exactly what i observed...when the options crowd is optimistic in the face of a deteriorating technical picture it is usually not a good time to jump back in. what's more, in spite of the spectacular declines we've had this week, the Nasdaq is not all that far from it's recent all time high and complacency is still quite high per anecdotal evidence. yes, we will have tradable bounces, possibly even quite sharp bounces in between, but i don't believe we're done yet with this downturn.

regards,

hb
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