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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: Trumptown who wrote (45534)	4/10/2000 4:38:00 PM
From: Zeev Hed	Read Replies (1) of 99985

Sting-Ray, the fact that we never reached a 62% retracement of the last decline tells me that we are not only going to retest the low at 3650, but breach it. I would say "welcome to the millennium first bear market". I doubt we will breach that low at once (but we sure could), but we should in due time get there. I wonder what are the politico going to do , do they have their plunge protection team in place? Did they cover already all those future contracts they bought from 1 PM to 2 PM last Tuesday and now have three times the money to do the same tomorrow? Well, we'll live to see, but by 11:00 this morning, I for one was busy selling all my longs and was back at 70% cash before noon. I was lucky too, since waiting for near the close would have cost me a hair cut pretty close to 10%. I am not going to watch tomorrow's morning "session", I do not like the sight of blood nor enjoy viewing massacres. Zeev

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