MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.63

+0.4%

Nov 19 4:00 PM EST

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To: Zeev Hed who wrote (77067)	5/15/2001 7:01:25 PM
From: t2	Read Replies (2) of 99985

Zeev, Volume continues to be low, even today. Just saw Ralph Bloch on CNBC. He seems to think that the Dow is going to make a break past 11k and Naz will go higher as well. Does not expect to see a retest of the recent Nasdaq lows. He also stated that the A/D is not bad and put/call is getting up there. He basically made a bullish case. Do you agree with his technical assessment? ----------------- It is either his view of the market..or view that the market is now just tired, especially the techs and at best they trade sideways. It is difficult environment to stay long or short in. I had been betting on gains due to the rate cut and leading into Thursday ...but am basically seeing nothing so far. Maybe waiting for key earnings like AMAT tonite...which was mixed. That may provide direction tomorrow. A selloff on the Naz would not be a good for the bull case...might exit trading positions (long) unless the market shows some life tomorrow. AMAT earnings can be viewed positively or negatively as we shall see after the analysts give their take tomorrow.<g> For now, I am "hopefull". I hate using that word when trading.<g> Maybe we get the true direction for the market tomorrow. Looks like the opposing trading forces cancelled each other out today and that is why tomorrow is so important.

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