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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: James F. Hopkins who wrote (31089)	10/22/1999 5:59:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Jim, so am i. i bought a bunch of OEX puts today to add to my collection. the main reason was the selling i saw in the nutz all day long...that sector is in for a serious rout imo. see my post on MITA: techstocks.com if the market had not risen in such a frantic manner i would perhaps have concluded that we are trying to build a more lasting bottom from which to launch a more durable rally...however now it looks as though we'll need to at least re-test the recent lows, if not go lower, since the rally from Monday's lows had all the hallmarks of a bear market rally, fast and furious and coupled with abysmal internals. regards, hb EDIT: just read the post you linked and saw that you drew basically the same conclusions....

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