MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: donald sew who wrote (29400)	10/13/1999 3:57:00 PM
From: Daniel Joo	Read Replies (2) of 99985

Shorted QCOM and bought MOTMQ this morning. Tried to short QQQ as well but Paine Webber didn't have the inventory. Mine are position plays - 3 months or less. The reasons I took these positions are as follows: - I'm stating the obvious here - but the DOW and SPX are making lower lows and lower highs. IBM broke the $110/share resistance which bodes ill for the tech stocks. 30 year Interest Rates passed 6.25% and climbing. Markets not moving on good news and moving down hard on bad news. Dollar is weakening. Gold is climbing. I'm anticipating that future economic news will not be good on the inflation front. We spent some time at Martha's Vineyard late this summer and tried to make a reservation at a restaurant that came highly recommended - the restaurant was closed on a Saturday night due to labor shortages. Tightening in the labor market will be reflected more in future economic numbers in the form of even higher wages and higher price pressures - IMO. Looking to enter more short positions as events unfold themselves. Dan

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