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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Jerry Olson who wrote (52184)	5/25/2000 10:14:00 PM
From: Stephen	Read Replies (2) of 99985

OJ, whilst I have been looking for a bottom, someone out there is looking for any strength to sell into. Whilst there has been some accumulation these last two days, scenario's which I would usually expect the PPT to run up to support the market indices, have been plundered instead. Tues was typical ... futures up in the a.m. ... then they tank just before 9.15 ??. I thought it was a head fake ... but no ... throughout the day there was selling into any strength. Weds may have looked good on the surface ... but it sure didn't look that great to me throughout the day and could have gone either way.... though the professional money put to work towards the end of day eventually won out to the plus side. Today some accumulation was under way a few times - yet as soon as prices got to any decent level, the big sales came in ... and I'm talking about when the market was going up.(As I posted earlier, by my measurements distribution always held the upper hand). Frankly, I don't know whats going on ... (and like most people I don't buy the argument that the financials have been strong because they rally before interest rate hikes are over) ... but some professional money wants out of this market badly. No real panic yet - though this p.m. was a sight to see .... but I have a bad feeling about this and it may well be that there are some forced liquidations by major funds. I could not contemplate going anywhere near a long at this time ....though the number of posts to this thread may give the longs some hope ... GG. Stephen

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