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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.93

0.0%

Nov 14 4:00 PM EST

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To: eichler who wrote (76435)	5/3/2001 10:28:30 AM
From: eichler	Read Replies (2) of 99985

crossover signal (5e8s ma) on the 60 minute chart, pretty reliable. Stochastics, adx signal agree. Went to cash, first thing this a.m. If I was really, really sharp at present, I would have found something to short late yesterday. Still, cash and up 25% for the week is not too horrible. I'll be watching for follow-through on the stochastics, looking for that indicator to reset itself, perusing my watchlist for candidates to jump back up. Chart looking very negative ($compx). 2120 (roughly) IMO, the lower trendline for the up-move, is the point of no return. If it breaks, I will be looking to short. All the bullish sentiment in the world right now will not prevent portfolio loss if the comp tanks. That is the main difference between being long for technical considerations as opposed to being long for bullish sentiment. Be careful! Regards, Eichler

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