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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

+1.6%

Nov 10 4:00 PM EST

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To: Jill who wrote (46500)	4/15/2000 7:44:00 PM
From: American Spirit	Read Replies (2) of 99985

Media spin has already turned positive. Starting with Clinton and Gore's statements "nothing to worry about, low inflation and continued steady growth" as I predicted. Expect a lot more positive news plus lots and lots of earnings reports this week, many of them reassuring. As for dot-coms which may not show profits, many of them are down as much as 90% from highs so where do they have left to go? Many will be taken over. A few may disappear. Just evolution. I don't expect ETYS or CDNW to go out of business. They will be there again next Christmas. In fact buying those on Monday (if you want to really be contrarian) might get you 400% or so by November. But the quality big-name stocks will certainly recover first. The rest of the margin calls are of concern but very temporary. Two days and it's all over but the moaning and groaning. Unless you HAVE to cash out holding now makes a lot of sense. In fact buying heavily on any downdraft makes even more sense now. Mini rallies may fail at first but more major corrective rallies will certainly be generated by mid week or so. Everyone fears Monday and maybe for good reasons but in my experience this type of fear signals a bottom and the opposite can happen, we could go up. We'll soon see. Huge amount of earnings reports Tues-Thurs so keep that in mind.

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