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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.72+0.4%4:00 PM EST
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To: mishedlo who wrote (80562)7/19/2001 9:32:55 PM
From: t2  Read Replies (3) of 99985
 
meshedlo, You can now count me in as one who is not optimistic on the market. Even though I was holding only large cap techs, when you start seeing damage done to the midcaps like PMCS etc..., you realize that the large ones can't escape.
There just does not appear to be much money coming in to support this market and make it go higher.

I have just lightened up instead--more balanced and not concentrated in tech.
Tomorrow might be bad because of MSFT and if it is not bad, Monday may be scary. Only options expiration can keep the market high tomorrow.

It is a daytrader's market and not for people that are used to seeing momentum markets (like myself). The money inflows are just not there to support higher PEs anymore. Even if the economy recovers, there may not be much of a bounce in the market since money inflows appeared to have peaked in March 2000.

If there is a momentum market, one might be better off looking at Japan or Europe where the degree of investing in mutual funds and stocks is far lower.

One might be able to call my points as some sort of contrarian indicator just like Amots was kidding with me.

I agree there appears to be too much hope among mutual fund holders and others who hold stocks but not on margin. They are willing to wait it out while many others still appear to be learning about hedge funds and short funds...short interest in the market may still keep going up as there is really nothing out there that can shake the shorts.
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