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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: bobby beara who wrote (46675)	4/16/2000 3:34:00 PM
From: Michael Watkins	Read Replies (1) of 99985

bobby, That percentage change chart is a beaut isn't it ;) just amazing. A lot of technicians will use bull market oversold indicators to buy dips and not realize that on the other side of the peak that these indicators will likely only be good for short countertrend rallies, if good at all. A lot of amateur and professional technicians alike will make that mistake. Oscillators just don't work very well in strongly trending markets (unless you look at them differently. However I admit to not being an oscillator fan too, for me price is king and volume is queen. Many folks just haven't experienced a strong downtrend in their entire investing career. If it plays out for continuation, we'll see sanity return. Bottom line, it was too easy to make spectacular gains on the long side. That is not the norm... (ps and in a couple of years we can repeat the whole cycle over again!)

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