MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

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Dec 11 4:00 PM EST

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To: KM who wrote (31927)	10/30/1999 7:35:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

>>Those are probably the best short candidates in a rally<< Possible but if this turns out to be as crazy a rally as I am suspecting it may due to pent up buy the dippers finally thinking they have the green light, then shorting ANYTHING may be dangerous until mania dies down a bit. I am not saying we are definitely in a mania again yet but it seems that way. The one nice sign I saw was the Banks taking a pause Friday. We will have to see how this plays out as the week progresses. Like I said, this is a strange phenomonon so far so it will take a while to see how it acts. Don made many good points in his caution post. I think he is right in what he sees just like the danger signs I mentioned. Again, it is a battle of fundamentals, manias and technicals. It will take a while to see what wins out. I watched a few talking heads this weekend and many still think the fed should and will raise but they think the market will rally on the news as long as it is only a 1/4 point. Now what happened to 3 raises and a drop, and if they didn't raise, could you imagine the glue sniffing straight up rocket shot we would get? I think I saw that NAPM is being released this week and the October employment numbers are going to be released Friday. Maybe one or both of those will put a damper on this. I looked at some more charts a while ago running through the individual banks. While the BKX looked pretty bullish, the individual banks haven't broke out of their more bearish containments at least not yet. Most did have an inside day so they can very easily continue their upmoves later this week but for now, the verdict isn't in yet. I still have a few hundred more charts to look at so I am not sure of anything still. An orderly rise with pauses along the way, and I will move more towards the bullish camp. If we continue to rocket straight up, I will try to find a top and short the snot out of this thing. I will also be watching pullbacks this week if we get them to see how far and in what way they do so. Gary - Sorry I don't keep a chart of IFMX that I know of. I will have to search my data base to see for sure. I have had a few requests to look at it in the past so maybe I should load it for future possible use. Good Luck, Lee

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