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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: Haim R. Branisteanu who wrote (39854)	2/11/2000 7:43:00 PM
From: Michael Watkins	Read Replies (1) of 99985

Haim, I do believe you are exactly right. Yesterday trading with others we were all thinking about the same. I find it amazing that I forgot that feeling. I guess I'm continuing to keep an open mind for whatever happens, which is a good thing and frankly is surprising me. Yesterday there was a key point where the spoos broke a level and formation and I felt a charge of electricity run through me. I have no explanation for it, never having felt it before, but I emailed a couple of friends right then and there (promptly missing the trade no less) and told them to watch out. The closing moves on Thursday obscured the feeling -- and for CSCO and the SOX temporarily made my breakdown call look assinine. But it doesn't feel too assinine today. Anyways, we will have to see what happens Monday. The market has an amazing way of saving itself time and time again. Not sure what that may be this time, if anything. An oversold NYSE/SP500 can't be a savior for long. Monday doesn't hold much in the way of eco news except for the Atlanta Fed report (yawn); Capacity utilization on Tuesday may be a shocker. I bet CNBC has their Valentines Day Massacre graphic visuals all prepared just in case. Hopefully Larry Kudlow will parade around with it covering his genitals. Yeach, now there's a sight I do not want to see... LOL

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