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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: Lee Lichterman III who wrote (29125)	10/12/1999 3:36:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

>>my track record is not doing well lately << So much for my minor pullback, this is starting to get ugly fast. Any news other than the usual falling dollar and bond interest rate at 6 1/4%? DOW and NASDAQ approaching critical support levels here. if we fall further, we could be in deep doo doo. To think I was pricing OEX puts yesterday but didn't want to turn my back on the market, sheesh I could have gone to sleep and traded this. Dennis, you looking to dip into this or do you feel this is ugly enough to warrant waiting for the bounce. I assume if Don's 3 day pattern holds, tomorrow could be slightly up under the disguise of INTC's report then Thursday we fall farther? I am not seeing heavy selling of the favorites yet. SUNW, INTC, only slightly down. RMBS up big etc. It seems for once the tides are reversed. I see many stocks only slightly down but the indexes looking worse. Must be the broad based selling as everything is down a little? A/D horrible but no serious stock supports broken yet from what I see. Les - Thanks for the explanation on the PNX and good article you put on here today. Don, thanks for the response. Looks like you may get your cleansing of the rotation if this keeps up. The NASDAQ didn't want ot play along this morning but it is now plunging with the rest. GZ - What formations tipped you off that this might be bigger than the false strength was suggesting? The wedges??? Good Luck, Lee

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