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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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To: John Pitera who wrote (6648)	2/18/1999 5:17:00 PM
From: Ms. X	Read Replies (1) of 99985

Tom Dorsey on CNBC Recap. He said the market was very negative especially since we have a sell signal on the Dow Jones Bond 20. The last time we had such a sell signal was 1994 and this leads him to believe that we may see a similar market (as in '94) this year. He is defensive. Short term indicators are now in oversold territories but have not reversed up. Tech stocks have gotten hammered and their sectors are now in oversold territories but they have not reversed up yet. They may have more to give up. He would have liked to come with shorts for the show but they don't like that sort of thing. Viewers questions: ABS: Get rid of it WLA: Don't do it. Look at AHP instead PSQL: Avoid, change symbols NBR: Oil Service sector has gone through its own bear market and if one wanted to buy, to consider HAL or SLB. Stay with the big stocks in this sector INTC: A lot of daylight between 125 and the bullish support line, be careful with Intel and not too aggressive. That about covers it. Yes, I recorded it :-) Toms comments about show: Message 7901552

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