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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Monty Lenard who wrote (3189)	1/2/1999 4:25:00 AM
From: Lee Lichterman III	Read Replies (2) of 99985

I know and I cringed when I wrote it but I just don't feel we can say the market is going to finally have a small cap rally or go up because the kids left behind to mind the store while those traders with seniority were off on X-mas vacation were controlling the big money. I saw a lot of stocks move the last 2 shortened weeks that haven't moved in a long time. I also saw some flagerant games being played in the way the TICK swung trying to lift or depress the indexes to convenient levels. Anyone watching the last hour of trading on Thursday should know what I mean. There was a lot of money being used trying to goose the market up and the market didn't want to go that way. When they kept goosing it more and more and yet the SPX wouldn't clinb with a +500 TICK so they kept pushing it until it finally reached 800+ to get it moving, it sent a bad signal to me anyway. Also soon as they backed off, the market fell hard and it took a TICK of over 1000 just to stop the fall so we would only end down 90 DOW points. I just don't see this as bullish yet I don't see a crash either. I think the kids weren't allowed too much free reign and the houses didn't want to hold too much over the weekend. Now that we are going to have a few full weeks of trading and there are going to be more companies releasing earnings, we will finally get a look at how the market is going to move. The last 2 weeks were shortened, had many traders missing creating off balence trading situations and had no real earnings guidance. I personally want to wait and see at least the first few hours of trading before I jump in for day trades and a few days of trading before I position trade. BWTHDIK Lee

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