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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 692.24

+0.3%

Jan 15 4:00 PM EST

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To: Les H who wrote (63007)	11/23/2000 11:18:05 AM
From: Stephen M. DeMoss	Read Replies (1) of 99985

Dear Les, Your my #1 read and I very much appreciate your inputs. Your Nov. 20 'What to expect Now' has rightly predicted the lows we saw between Tuesday evening and Wensday (all day). The volume was light. If the prediction continues to be correct, we should be moving up near term. Am I correct in this? On the face of it, it seems correct in that we should get some resolution re the elections this weekend plus we are technically oversold (down 10% on the naz just this week). There also is a ton of money on the sidelines. Having said that, however, I notice how the charts of about 20+ companies (techs) are all below their 50 and in most cases 200DMA's. Those charts do nothing but predict continued lows. You also say you are long the Naz 100, yet its chart looks like it is falling off a cliff. Any additional thoughts would be very much welcomed. Ps. Do you have a site one subscribes to? And in it, do you make recommendations on individual companies to own or short? I would be interested in such a site from such a student of the market like yourself! Happy Thanksgiving. Steve D.

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