MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

-0.2%

Jan 29 4:00 PM EST

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To: StockOperator who wrote (48810)	5/1/2000 1:16:00 PM
From: marginmike	Read Replies (1) of 99985

I agree stocks like NOK, SUNW look strong, but at best we are in a tradding range. IMHO. The damage will not be repaired so easily, and this tape looks strange. There are stocks up big, but very light tradding action. When stocks like Qcom, or BRCM went up before there was massive volitility minute by minute. I see the abscence of this volitility as a dearth of buying, and MM manipulation of Mutual fund holdings. JMHO I think this a very shaky rally, and though some charts contradict that, the lack of volume is the mitigating fact to swing me to remain bearish. The sharp downtrend is broken. However we are far from rebuilding to the upside.

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