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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 687.86-0.4%4:00 PM EST

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To: bobby beara who wrote (75082)4/17/2001 8:09:33 AM
From: Arik T.G.  Read Replies (1) of 99985
 
My back of the envelope calculations show CSCO fair value around $11, fully priced @ $18 so current pre open pricing of $15.6 is not unreasonable. OTOH INTC fair value is IMO no more then $16 so I expect another frog the market has to swallow. MSFT? I have no idea but god help us if they join in warning.
It may take quite a while before we get to Naz fair value (around 800-1100) and the NYA has to give first. At 600 it's only 12% off its peak, and what a beautiful bearish wedge.

ATG
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