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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

+0.2%

Dec 2 4:00 PM EST

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To: KyrosL who wrote (40659)	2/18/2000 7:16:00 PM
From: Michael Watkins	Read Replies (1) of 99985

In the short term (next few months), I think the high tech bubble is going to burst, KyrosL, Why not now? As far as I'm concerned, the NDX futures pulling back into congestion at the close yesterday was the opening salvo for the top. Today was some amount of confirmation. Lets see what next week shall bring. Full disclosure, I am cash and short only, not a single long position. Period. My big long term winners in retirement accounts - liquidated them all after Jan 14. I don't play the dreaded yellow metal, I am happy making money on the short side to compensate. Am I bearish? No, just realistic. The market needs to prove to me its not in a bear market now. The tech market needs to prove to me that it hasn't just set an important top. If it proves to me otherwise, then I'll be long again.

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