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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

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Nov 17 4:00 PM EST

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To: pater tenebrarum who wrote (46722)	4/16/2000 4:52:00 PM
From: Gary Burton	Read Replies (2) of 99985

TSC just started a poll an hour ago, asking "Where Will the Nazdaq Comp bottom"---of 521 replies so far---14% said "it has already", another 17% said in effect "3200 will hold" (Fri low was 3266), another 31% chose "3000-3200 while 30% said "below 3000" while 6% said in effect 'way below 3000'---My Interpretation-- IF the market opens Up, most think it will fail (I agree) but also 62% think one should 'start' buying the next low once it dips below Friday's low of 3266. And if the market opens down, one should get ready to buy about 10am------Hardly anyone expects a close below 3000 in the next 2-3days although it might dip a bit below intraday.-----Comments?

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