MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 21 4:00 PM EST

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To: Stephen who wrote (5344)	2/3/1999 10:20:00 PM
From: Richard J. Byrd	Read Replies (2) of 99985

Stephen: You said this thread seemed to be a contrarian indicator. I've thought the same thing several times. However, I believe the more accurate analysis is that the thread seems to be very quick to jump on the bandwagon of any perceived change in trend. If the market is down for two or three days the bears come out of hibernation and predict a 2,000 point slide, and if the market rallies for some days the thread consensus is for a rosy future. I have to keep telling myself - The trend of this market is up, BIG time up. Up for the past ten years. Every dip has been an opportunity. I day trade a lot, but usually only in calls. If the market slides for several days, like Mon & Tues this week, I stand aside and wait for the turn. It happen at 10 am this morning and my calls did quite well today thank you. Remember - The trend is your friend. Don't fight it. Happy trading Dick

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