MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Lee Lichterman III who wrote (27100)	9/24/1999 4:35:00 PM
From: donald sew	Read Replies (1) of 99985

Lee, Today's rebound could be due to the SHORTs taking profit. Regardless, the trend has turned to the downside and I would be a bit nervous if overly long. Yes this bounce could last a bit more, but not much more. Too many negatives. For the DOW THEORISTs the TRAN and UTY have broken their 200 DMA, so the common belief is that the DOW will follow. Today we again saw some sector rotation with some stocks moving up strongly like AOL. My position which I have been stating since MAR is that SECTOR ROTATION at these types of extremes is an anomoly and before the overall market can return to a nice uptrend, such needs to be corrected. With the DOW down around 1000 points(about 10%) this SECTOR ROTATION anaomoly is still not corrected. There's more downside, but it may not come right away and Im not one to subscribe to crash senerios, since the probability of predicting a one day crash day is so low. I need to see some more capitulation to say that we hit some sort of a meaningful bottom, not just a short-term bottom. The dipsters did go to work today, but then again it could just have been shorts taking profit. If the market closed at its highs I may have concluded that we did hit a short-term bottom, but it didnt, so Im not sure. Seeya

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next