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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: Kailash who wrote (40871)	2/21/2000 7:31:00 PM
From: Michael Watkins	Read Replies (2) of 99985

This is the question. Everybody knows the Nasdaq never goes down, everybody is predicting it will. But everybody know that in the market everybody is always wrong. That's exactly it. I don't think everyone thinks the market is going to crash, overwhelmingly the lay person believes that it only goes up. I don't know a single individual investor (from friends, family and colleagues at work) that share my concern. They all wanna buy the dip. There may be folks like us, some technicians, and a few typical bearish commentators on the tube all calling for a downtrend, but counter balancing them you have the entire public and the sell side machinery all saying buy the dip. I'm pretty sure the weighty balance of sentiment still favours the "never going down" side. Far from me to say they will be wrong this time, we shall find out tomorrow in all likelyhood.

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