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Strategies & Market Trends : MDA - Market Direction Analysis

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To: eichler who wrote (76451)	5/3/2001 2:40:48 PM
From: eichler	Read Replies (1) of 99985

$compx hanging out in no-man's land here. Nothing to hang one's hat on, short or long until something gives one way or the other. KRY breaking bull flag to the upside, double the volume since my last post. Of interest to me is the defensive nature of gold stocks, hinting that perhaps the sell-off on the indexes has more to go. Either way, the writing is on the wall. All three indexes sport rising wedges, with only one possible conclusion. Dow and SnP have broken their wedges. The question to me remains how far down? Fib retracements are the obvious targets. My personal opinion (gut-feel stuff, take it or leave it) is that the gaps below will fill, we (hopefully) get a higher low which will launch phase II of the bull rally. I've just about written off the current rally at this time. Could be wrong, nothing is written in stone and no one is always right. My BFRE breakout mention from yesterday is not dead yet but I don't have the guts to play it now under these circumstances. MM's can pull the plug anytime they feel like it. Best of luck to all, Eichler

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