MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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To: bobby beara who wrote (33589)	11/17/1999 4:25:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Bobby, i was a bit under the weather and stayed in bed the last two days... i noticed the McClellan divergence as well....and it is a sure sign of exhaustion when record volume can't move the NAZ higher anymore, at least short term. conviction according to the polls has also risen considerably. i'm just amazed that various brokers are STILL upping their price targets for the semis, which were never before as overvalued as they are now. someone posted on the MB thread that at previous peaks the semis price/sales was about 2, whereas now it is about 19. but easy Al ain't sure if it's a bubble.....is he going to get a wake-up call one of these days.... regards, hb

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