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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.89

+0.3%

Oct 31 5:00 PM EST

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To: fedhead who wrote (41435)	2/27/2000 6:20:00 PM
From: pater tenebrarum	of 99985

Anindo, the NAZ can certainly be compared to the Nikkei in the late '80's due to the manic nature of both markets. interestingly, the Nikkei's final advance was driven by pharmaceutical and biotech stocks, on rumors about cures for aids. the distribution stage was actually a rally...not a drawn-out topping process. from the top the Nikkei collapsed without much ado. after the first 10% down it built a two weeks long bearflag, and then the bottom fell out. the Nikkei crash actually had two stages, the first stage was followed by a suckers rally after which it crashed again... i have no idea how the NAZ mania will end, but it's possible that the distribution has already taken place.on the NYSE distribution was definitely accomplished between late October-early January, in the guise of a rally. regards, hb

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