MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.44

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4:00 PM EST

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To: pater tenebrarum who wrote (44982)	4/4/2000 5:54:00 PM
From: Crimson Ghost	Read Replies (1) of 99985

Heinz: Agree about gold here. My take on the action was that we did get a decent SHORT-TERM bottom. But we have already rallied so much from the lows that I doubt there is much upside left -- especially for the NAZ. We mays still get a new high on the Dow, but this kind of volatility is similar to the pattern leading up to the 1929 crash and subsequent super-bear. Many margin traders have been shaken out, but the market's problems are far more basic than excessive margin speculation. Markets move much faster these days than they used to. Fearing some spillover from today's events in the US markets I sold by international value fund today -- it was up 1.1%. US markets tanked after foreign markets had closed.

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