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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 668.73

+1.5%

Nov 24 4:00 PM EST

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To: pater tenebrarum who wrote (30096)	10/15/1999 11:44:00 PM
From: Greg Jung	Read Replies (2) of 99985

Heinz, US investors are heavily conditioned into a) buying weakness b) buying technology c) ignoring pessimism. You are pickig up the mood from Europe, which doesn't have as much of a pop culture following for the stock market. It will take several "corrections" and recoveries over here, I think even the A/D line will be improving after next week. We're still going to go pretty much sideways, without much more than the 2-5% across-the-board cuts. Regardless of what you think it deserves, remember that this is October and only two more weeks are left and we really haven't done much serious damage. In November it'll be a new market. There isn't a catalyst for a quick drop.

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