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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 690.27

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Dec 26 4:00 PM EST

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To: Lucretius who wrote (27774)	9/28/1999 9:56:00 PM
From: Stephen M. DeMoss	Read Replies (1) of 99985

LT, I know you likely were kidding re: YHOO. If you were not, remember what happened with it last quarter. It ran to about 190 (close to today's close) 3 days before earnings. Lost about 10 during those days. Tried to rally about 20 times down to 110. To me, YHOO will be the begining of the anticipated selloff. It will begin selling close to earnings (next week), and sell, sell, sell during the correction/selloff. It is a cyclical thing with YHOO and the timing is bad with a need to correct in the big blue chips (now) anyway plus Y2K coming up etc. It could be very ugly with YHOO. Having said that, it may be a nice trade tommarow. Buy some calls at about 10:17 and be ready to trade out for 6 points or so at lunch time. I would not keep it overnight. Last quarter it started selling 2-3 days before earnings. This time it could begin earlier<G>. Remember, it had very strong earnings (beat by .04 cents) and still went on to sell off 80 points in one month. If a correction really will happen, it will be stocks like YHOO, BVSN, AOL, etc. which will give back 40-50% in short order. Good luck! Steve D.

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