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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: HairBall who wrote (4782)	1/28/1999 1:16:00 AM
From: Lee Lichterman III	Read Replies (2) of 99985

To all, I have been wondering something and unfortunatally have more questions than answers. Why are so many people agreeing with us that a correction is coming soon? Pullbacks happen when the least number of people expect them. Market moves happen in the direcion that help the fewest gain the most. <ng> Anyone looked at the charts XAU (gold/silver index), XOI (oil), Banks, Utilities etc. They fell HARD with a double capital H. Shouldn't we expect to see a defensive market heading for tangibles and money centers that pay dividends during lean times? Where is the money going? I have no answers to these questions but it is seriously bugging me that I am missing something here. We have been calling for a drop for over a month in February and now as it draws near, too many people are seeing things as we do and that worries me when I am in the majority crowd. As for the short term charts, a fork with the handle on the low of 14 Jan, the top tine beginning on the high of the 20th and the lower tine on the low of the 25th contains the last moves fairly well. This is also projecting an intersection around the 1st with the upper trend line of the wedge but forecasts upward movement until then. Just my WAG, I would really like to see where the money is going other than Ebay etc. Lee

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