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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

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4:00 PM EST

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To: Gary Burton who wrote (65468)	12/29/2000 5:22:57 PM
From: bobby beara	Read Replies (5) of 99985

gary burton, i think this rally was just another countertrend rally, which just topped out at the top of the nyse/dow trading range as indicated by lg. while there is plenty of bearish sentiment and put buying around, there is one bastion of speculation that is showing extreme bullish sentiment lately rydex bull bear funds nova-otc arktos-ursa showed 88% bullish money, for comparison it was 89% on march 8th and 91.7% on sept 1st. dynamic funds (2x leveraged) though not at peak levels seen when the nas bounced off 3000 are 79% bullish money. i think we will see new lows in nasdaq next week, i think we began fifth wave down today from 3000 top. b

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