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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: TimbaBear who wrote (33369)	11/13/1999 5:11:00 PM
From: donald sew	Read Replies (2) of 99985

Timbabear, What is interesting, I have not heard one TA analyst on CNBC predict a strong selloff to set LOWER LOWs. Even that guy from MERRILL turned somewhat bullish. Even on SI's bearish threads, there is hardly significant talk about an immediate huge selloff. I'm intermediate term bullish and will probably setup a straddle right before the FOMC meeting, with the bias to the upside. Im more inclined to do it with the DOW/DOW SECTORs rather than the NAZ. Not that the NAZ does not have anymore upside room but Im sensing that the DOW/DOW SECTORS may play catchup with the NAZ, in light of SECTOR ROTATION. One clue which is hinting that the NAZ may lag the DOW, news permitting, is that some sub-sectors in the NAZ are playing that one day up/next day down game. The obvious examples is that SOX and DOT last week. DOW sectors Im looking at are the FINANCIALs and even possibly the TRAN. With the TRAN, CRUDE OIL is now in the overbought region short-term and could start to pull back some. Im not saying that it will sell off big, since it is still in an uptrend, but that as it dips the TRANs may move up. Im talking about short-term option plays. Also the TRANs may be forming an ASCENDING TRIANGLE, which implies a breakout to the upside. The OSX already broke out to the upside so a dip in the OSX should also be a buying opportunity. Whats not to buy - Im starting to sound like a bull. ggggggg seeya

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