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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.63

+0.4%

Nov 19 4:00 PM EST

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To: donald sew who wrote (7356)	3/2/1999 8:14:00 PM
From: Claud B	Read Replies (1) of 99985

Don, As I'm sure you know, "oversold" doesn't necessarily mean a bounce is coming. We can remain oversold for a long time....just as we can remain overbought for a decent period of time. In fact, there are some technicians who use these "areas" to initiate positions in THAT DIRECTION. As for a turn in the Bonds, this is quite possible...but for the wrong reason. If Bonds rally here, it's my opinion it will be as a result of stock money seeking a safe haven from a declining stock market. While I have no intention of disputing your signals for the past two years, I urge you to consider a much longer look-back period. I say that, of course, with all due respect. Claud

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