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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST
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To: fedhead who wrote (42950)3/14/2000 8:21:00 PM
From: Michael Watkins  Read Replies (2) of 99985
 
Geez we have a couple of days of profit taking and people are talking about bear markets. NAZDAQ could correct 20 %

Hey, perhaps that will prove true in the end, but, as I am fond of saying, tops start somewhere.

At this point the circumstantial evidence and otherwise suggests caution.

Or shorting.

I have almost always prefer the later ;)

PS: Lest we forget, only the tech sector has seen "a couple of days of selling". The rest of the market is well down the correction road and for this observer, is in a bear market until proven otherwise.
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