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Strategies & Market Trends : MDA - Market Direction Analysis

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To: StockOperator who wrote (3128)	12/30/1998 3:25:00 PM
From: donald sew	Read Replies (3) of 99985

INDEX UPDATE ===================================== Around Thanksgiving, the DOW hit 9380 and there were numerous analyst calling for 10000 by tomorrow, and yesterday when the DOW was up 100 points many said that the Santa rally was in full force and the DOW will, not just may, set new highs by tomorrow(that is still possible). On the other hand when the DOW sold off 700 points this month, some bears were saying that the big dump was coming. I was always told, that those who trade on emotions may not be the best traders. As for the SANTA RALLY the DOW is only about 70 points above last weeks close. My understanding is that the specifics of the SANTA RALLY is the week after XMAS thru the first 2 days of JAN. So far Santa has been weak, but there are 3 more trading days left in it. I am expecting a 1-2 day upswing, and hopefully it will get close to the highs at 9380. My feeling is that if and when we get to/close 9380, it will be a good to initiate puts for a short-term trade, but the pullback could be larger than most expect. Seeya

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