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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: HiSpeed who wrote (3178)	12/31/1998 9:13:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

I hate to chicken out but I don't have a prediction for Monday. That is why I went all cash. I really think it is a coin toss. The lines say we should pullback the first 3 days of the week but the seasonality and tradition of how January starts is how the rest of the year goes stuff may just invalidate TA and drive us higher. Remember in July how we blew above all the channels then tanked, we could do it again. I am looking for Monday to give me the short term direction. I believe after this next week is over, we should have a better idea as to what to expect. As for today, most of the advancers and new highs were in the small caps and especially the mid-caps. However looking at many of them did not get me excited. As most of you know I trade KEA often. KEA shot up 7% on high volume, CPWR went up as well along with CHRZ yet CA and CSC look extremely bearish. Most of the other sectors did the same. There were either huge gains or the decliners barely dropped thus skewing the high/low count. Wait for next week. (I am looking for AMZN to drop to around 290 but it is too dangerous to play. I like paper trading it since too many people have gone broke trying to guess what those things will do from one minute to the next.) Happy new year to all, Lee

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