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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.27

-0.5%

Dec 1 4:00 PM EST

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To: Ted Downs who wrote (72501)	3/17/2001 6:20:32 PM
From: Eurobum1	of 99985

Ted... Everything is based on Greed and Fear. It works for both camps (Bull vs Bear). All you need is stay Neutral. Watch the tape and try to catch the reversal if it's really happened. Otherwise, follow the herd and go short if you know what you're doing. The rest is just guessing work. The market is neutral, only the people is emotional. I don't try to predict the future. The whole week, I caught few reversals (big or small) and I also got few small loss (using stop loss) when I was wrong but at the end of the week I have a positive account. Example : Short SONS @ 27 5/8 cover @ 25 1/4 on Thursday (I closed all positions at the end of the day, tale no POW). Friday SONS drop all the way to 21 1/2 (no position)then it reversed to 25 when the rest of the market is tanking. This is just illustrated that shorting at the bottom is a dangerous game. On the other hand, I bought VRTS @ 53 7/8 sold it 10 mn later @ 55 1/16. It dropped back to 52 1/2 at the very end of the day then popped back to 55 1/8 during the last 5 mn. I was amazed with the fluctuation. I'm not a daytrader but preferred to be a swing trader in this crazy market. Good luck to you next week. P.S.: The NAZ is reaching the temp bottom but what's holding me back is the bubble in the Dowdy.

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