MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

4:00 PM EST

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To: eichler who wrote (76606)	5/7/2001 11:58:33 AM
From: t2	Read Replies (1) of 99985

That would be really something if it could manage to close in the green today, charts sure don't look like it. It is going to be very interesting. A positive close would confirm that there is just so much money on the sidelines waiting to get back in that it overwhelms the traders that are trading on technical analysis. Eichler, Would I be correct to assume that TA has been right on for the past 7 months or so..especially during the declines since last September to end of March? If that pattern is starting to break, it can only mean that investors are looking for every opportunity to get in and basically buying the dips. Lots of money went into money maket and bond funds in the past few months from people that may normally have been interested in stock funds instead. They may have been using other alternatives only as a temporary holding. Going to be an interesting day...my bet is that it closes green but we have a long way to go. The way Cisco (not a favorite) is holding up suprises and shows how much risk investors are willing to take. The large caps' strength also seems to indicate that there may be some real buyers into this weakness. thanks

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