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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.31

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Nov 12 4:00 PM EST

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To: StockOperator who wrote (4715)	1/26/1999 6:31:00 PM
From: bobby beara	Read Replies (2) of 99985

SO, yesterday's action did indeed make me reassess my thinking and I covered my shorts and went long Dell. However I believe we are close to making another top. If you look at any of the tech indexes, they are trading in channels and we are at the top of the channel at today's close. the 20th broke the channel to the upside and caused a real nice correction. If we have another spike big tomorrow in the techs, it will be another selling opportunity, not a buying opportunity. MSFT is up almost 30% for the month of January, do the bulls expect MSFT to annualize that kind of return -g- bb

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