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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.03

-0.1%

Dec 9 4:00 PM EST

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To: Daflye who wrote (5314)	2/3/1999 10:56:00 AM
From: donald sew	Read Replies (2) of 99985

INDEX UPDATE ================================ I would like to express some upside caution for PUT players in light of GREENSPAN. I am hearing from MARIA B.(my favorite commentator - blah) that if GREENSPAN does not INCREASE rates, she claims buying will resume. If Greenspan does not increase rates and the market rallys, the key to watch is yesterdays highs in the major indexes. A break of yesterday's highs to the upside(DOW at about 9330) would imply further buying for the short-term. If the buying does not exceed the 9330 range that its just a bounce and the pullback should continue. Regardless, negativity still exists and unless the market internals improve dramatically immediately after the Greenspan announcement, such possible rally should be shorted. Im mentioning this to highlight the possibility of a short-term environment where many could get whippsawed in either direction. Seeya

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