MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

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4:00 PM EST

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To: eichler who wrote (76500)	5/4/2001 11:06:35 AM
From: t2	Read Replies (1) of 99985

I am still keeping my bullish positions but I don't like the way the high fliers are going up. That would be a sign of short covering to me. Juniper is making a run now. If by chance it becomes a massive short covering rally signified by big gains in Ciena and Juniper types, I would be taking some profits. Short covering rallies are not a bull's best friend for any sustainable gains. I sure hope that institutions are getting aggressive at buying and I am wrong about traders covering on a large scale. I will settle for a good mix of both the short covering and LOTS of real buying by funds as a bullish signal.

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