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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.39

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Dec 4 4:00 PM EST

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To: HairBall who wrote (43806)	3/22/2000 8:36:00 AM
From: Lee Lichterman III	Read Replies (1) of 99985

>>Frankly I did not think the small price action area that came into to play on the NYA chart, would! << Those wouldn't be the ones I asked you about but since you still aren't talking to me, blew me off? Message 13245721 "Are you reading your NYSE chart as a bull flag and bounce off 625 (oct 98 SRL)......" Nothing has changed IMO, still a stock picker's market. My charts are 50/50 with some longs and some shorts. Yesterday was a knee jerk reaction but I think we will see more stocks falling once the total all out mania changes back to the normal regular mania. At that point the wheat will be seperated from the chaff. I also have one of my main indicators showing only 2-3 days up at the MOST for the broad market so even if we do continue the run here, we should top out short term by next week. I have 1530 as the top on the SPX, the NASDAQ I am not sure of either way. The old tech still looks good, the B2Bs are split and the biotechs are still weak but some of the older generals look ready to continue north. The highly volatile ones like I singled out yesterday in my comments off our site put in what look to have been hammer bottoms and should be close to lows if not already there. Since I am a bottom picker versus a mo mo trader, there isn't much I like here but there is money to be made on both sides still. Oh by the way, it just breaks my heart that my favorite POS missed last night. I may have to rush and throw a party to celebrate. MU never disappoints... my expectation to continue to be a dog with fleas. <ggg> Good Luck, Lee

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