MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Haim R. Branisteanu who wrote (6437)	2/16/1999 4:39:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

Wow I figured it would trade up on the split announcement even though they only barely met first call estimates. Guess it was a good thing I didn't gamble and buy some calls huh? Crazy day today. I had to stay home and watch the kids today and saw things selling off left and right yet I am now looking at the A/D and it doesn't reflect the ugliness I saw during the day. A/D issues almost even and volume was 2-1 negative on the NAS but favored the advancers on the AMEX. Now we have to wait and see what AMAT has to report and what MD says at the conference call. He may be able to smooze his way out of this. We tested some critical supports and I suspect they managed to bisect my forks so nothing conclusive will show but as usual I have mixed feelings. The action today was plain old fashioned ugly yet I was actually impressed that the indexes held up as well as they did despite a negative TICK around 500 all day spiking at times to 900. There could be some more strength hiding in there than we think. Regardless Imy gut says we are in for trouble here soon. I will have to see what the scans and charts say later. I have to go to work and see if I can burn some leave. The weather warms up and the whole family gets the flu. Go figure. Why do I get the feeling your scans tonight will have a lot of sell signals? <g> Lee

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