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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.28

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To: Les H who wrote (34870)	12/7/1999 6:06:00 PM
From: SBerglowe	Read Replies (1) of 99985

Les.. What to do? what to do? While my blue-chip investment portfolio lagged, while the financial stocks look lousy, my trading portfolio jumped and wagged it's tail like a Hokie :) . I'm up 60% (about) on my trading portfolio this month because I've been fortunate enough to be "in a few good stocks". Like an imbecile, I even used margin this month for the first time in 10 years, reduced to 8% today by selling WPNE which went up another 4 points after I grabbed a 7 1/2 point profit. So many others must be using margin... What is going on in the market? The A/D line is making new lows..... HOWEVER.. The Bradley model points to a near term selloff, but January points to MANICALLY up.... It's truly amazing how squiggles on a chart motivate herd mentality. From a technician's point of view it appears that the oscillators can only go in one direction, and that is up especially If Y2K is a nonevent,( and maybe the snafus's will be monstrous,).... the a/d line is so oversold and so many stocks could reverse here. Short term...I could see a significant pullback. PROFIT TAKING. There's mania in the market....However, Don Wolanchuck who has a BIGG following is calling for 16600 on the Dow on the way to 60,000 led by the TECHS. Could the mania be that insane...I ponder. Excuse me, time to open a good red and have dinner.

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