MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

4:00 PM EST

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To: eichler who wrote (81230)	8/6/2001 3:12:38 PM
From: t2	Read Replies (3) of 99985

Does it not seem bullish that the Nasdaq market has just stalled at down 30? Even Intel, which is the center of attention, did not tank significantly. It was at this level sometime last week. More indication that there is just no downward momentum on the Nasdaq. Decide to un-hedge some long positions again by dumping some of my protective puts; still hold a few but nothing significant. Did decide to hold onto my small gold stock long trades (which i consider to be a hedge as well). Frusterating market! Does not move much. If it does move significantly in the coming days, my bet is that it goes up, not down. The low volume is a hint that maybe the short bets are already in place and that any move of funds into the market could be a spark...however we are lacking good news. just my guess at what is happening.

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