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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: Fun-da-Mental#1 who wrote (34813)	12/6/1999 2:33:00 PM
From: jttmab	Read Replies (1) of 99985

Fun-da-Mental, A good analogy. Trust me, I'm with the rest of you. I'll be pouring over the charts, looking at trading channels, EMAs and stochastics. Scratching my head over the balance sheets on listening to the conference calls...and wondering from time to time..what's the point?...it's the patterns. I've been trading in and out all year long and at least won more than I've lost. It's a difficult call to guess who is more frustrated in the market, the value investor or the bears...certainly the bears had probably lost a bundle. The average value investor probably doesn't look at market internals and has no idea about the average P/E of the NASDAQ but is understandly confused as to why YHOO is where it is, while their value stocks are being beaten up top to bottom. I look at something like RTI, beaten down. Seems financially solid...showing insider buying. I'd be quite happy to buy the stock on fundamentals. But look at the chart and a quick look at the current quote shows it down again and the ask size exceeding the bid. Even with the reduction in aerospace sales, the company is trading at 0.4 [price/book] and 0.5 [price/sales] on a P/E around 13. What happens to RTI if/when there is a large market correction? Does it get swept down with all the others or does money flow move from the nets to the Value stocks? jttmab

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