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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Terry Whitman who wrote (7185)	2/28/1999 11:37:00 AM
From: j.o.	Read Replies (3) of 99985

Looking back at the market over the last months... I can't help thinking that in the Dow we are just caught in a range between 9200 and 9500 with some attempted breakouts which were quickly corrected. How do you know when to call an end to a range? I have seen other markets' ranges outlive many calls for their demise. It seems to me that this might be the case here as well. We have had some shocker-valuations come back down to earth a bit (Dell et al), but I have not seen any indication that the market overall is preparing to break out. Any ideas on why we should leave the range just now? I would rather buy my puts when I see the move happening. Or will I have missed it? I tend to think that the next big move will have at least 500-1000 points in it. I don't tend to think I'll miss the whole thing. j.o.

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