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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.59

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Jan 27 4:00 PM EST

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To: Lee Lichterman III who wrote (28455)	10/5/1999 4:38:00 PM
From: Terry Whitman	Read Replies (1) of 99985

Lee- I agree with most of that. I was yelling about the casino mentality of this market last fall on the BK thread. The lunacy combined with the falling A/D line has caused me to stay out of the big casino since last summer. The A/D line has proceeded to hit new lows several times since then. If you have been lucky (or smart) enough to be long the handful of stocks that have held the indices up- more power to ya. I am not that smart (or lucky). Fundamentals have won for the most part. There are a few sectors and stocks that have bucked the fundamentals, but they are sparse. I have done quite well going long gold stocks, however- so don't shed any tears for me. <g> BTW- I closed all my gold longs when the obvious gap up reversal in the XAU occured this morning, and am flat. Am expecting a turning point near the new moon which is this weekend. If we continue to rally till friday, I expect it will be a top. BWDIK, TW

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