MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Mike M who wrote (65224)	12/25/2000 9:21:58 PM
From: Square_Dealings	Read Replies (1) of 99985

Mike, I would let all those stocks definitively change the downtrend before looking at them as anything more than a very short term trade with tight stops. If the market is truly bottomed then there is plenty of time to make money long, there's no rush to jump in. I see a bounce but I dont see a bottom yet. In spite of Friday's action many of these stocks are still on the wire and could go either way. I think the chances of them getting away from you on the upside are less than the chances of a sudden reversal down. People have called the bottom on the Nazdaq now about 50 times as it makes each new low and then bounces. Its still too early to call anything a bottom here by my book. good luck M.

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