MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: dennis michael patterson who wrote (35933)	12/23/1999 4:42:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Dennis, obviously the 'thing' is quite a freight train...however, no bell will ring at the top, and it's probably a good idea to remain cautious. did you see Dick Arms today? i know, he's an old era old-timer, but he had some interesting things to say about how overbought conditions have become and how the expansion in volume didn't really produce much movement (NAZ excepted) looking at the past 6 months or so. i immediately had to think about the consistently negative tick readings that bug me so much... of course, as long as liquidity stays ample, most concerns can probably be postponed until either liquidity dries up or some confidence eroding event occurs. happy holidays! hb

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