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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: bobby beara who wrote (76701)	5/9/2001 9:54:33 AM
From: t2	Read Replies (1) of 99985

hoping I catch the next decent move... down I think. To me it looks like a setup for a repeat of what happened when Cisco warned in April. As long as the market stabilizes in the down 50 range on the Naz, the setup for a move into positive territory is developing by day end. The key is still whether the market stabilizes here first..for now the it seems to be continuing down. It has to pause in this range for the market to come back. Otherwise, many will be trying to ride it down to about 2000 on the Naz before covering or buying. In addition, a lot depends upon the trading in MSFT. The Windows XP was good news IMHO but Costello (cnbc)seems to be spinning it as neutral. I have followed the stock long enough (and very closely) to know it is a net positive as uncertainty is eliminated. Watching for analyst comments out of the MSFT conference call on the release late this morning (posted a reference--tel number if anyone is interested). Also noticing that the drop in the financials in the past 2 days. Today, they seem to be stabilizing, meaning there is a chance of a lift to the Dow given there is an IBM analyst meeting; msft news; hwp stabilizing. My point is that many Dow stocks have been beaten up recently, that it is due for a bounce. Once the Dow turns positive, the Naz should follow. Looking more and more positive for a good rally in both indices.

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