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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: Les H who wrote (52417)	5/27/2000 11:40:00 PM
From: John Madarasz	Read Replies (1) of 99985

Hi Les...Thanks for the data I went back ten years, interesting only in 1998 and 1999 did the month of may close lower than the open on the Nasdaq. I think what I'm trying to say is not that the bottom is in, but thata bottom is close and a nice bear rally could be at hand... kinetictrader.com I fully expect to see an intraday low of 2350 on the Nasdaq before the summer is over, it's just that a 75% haircut in two months is even more unprecedented than ANY nasdaq gains to date. I think that it will take longer for investment banks and big money to unwind positions more profitably. All just a guess, Regards, and have a great weekend John M Durable goods orders... ndr.com

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