MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 685.40

+1.2%

Jan 21 4:00 PM EST

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To: bobby beara who wrote (56545)	7/14/2000 7:57:48 AM
From: Casaubon	Read Replies (1) of 99985

it looks like panic short covering to me. In reaction to the "good earnings" news, some who were eager to take part in the internet mania and hoped beyond hope that the bubble would re-inflate. After a period of distribution to longs who are in love with the stock, I beleive the stock will resume a long term downtrend. I predict the rally will not go over $150. The distribution period could be quite extended.

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