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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.44

+0.6%

Dec 19 4:00 PM EST

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To: dennis michael patterson who wrote (44966)	4/4/2000 5:30:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

Dennis, thank you...a little knowledge of market history helps keep one's perspective. in the same vein, let me add that real panics in the spring are rare...but they HAVE happened on occasion. most recently in Hong Kong as it were. today was a warning in my opinion of what may come. some of the cycle work i'm watching basically points to a higher market into July...but cycles sometimes invert, so i won't place my bets based on this alone. the question is, was there really enough fear today to call this a credible panic bottom? i doubt it....but i'm not calling for an immediate resumption of the downturn either. i'll be watching the action in the next few days very carefully... i'd recommend buying gold stocks here...extremely oversold in all time frames and way overdue for a rally. and obviously gold and gold shares ARE regarded as a credible hedge by the market... regards, hb

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