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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 665.67-0.9%4:00 PM EST
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To: bobby beara who wrote (7360)3/2/1999 9:58:00 PM
From: Lee Lichterman III  Read Replies (2) of 99985
 
I have seen you reference various sectors in your posts over the years so I am curious about something. I have never dabbled in oil but I am getting a hard buy signal on the XOI right now and I am geting numerous confirmation signals to back it up. Now I usually trade with FA in the back of my mind and my TA to tell me the when not why. My TA is saying the time is now but I have no FA as to why since we have been picking a fight with Iraq for months and they refuse to throw the second punch. I see no reason for oil to bounce here other than a few "funny" lines I have drawn and a lot of wavy signals telling me now is the time to jump on it.

If the market were to drop hard here, would there possibly be a flight to commodities such as oil along with Gold etc. Could there be a flight to dividend payng stocks due to a perception that this "dip" could last a while and people want to lock in a check every so often to wait out the bear lurking outside the cave?

Also in your response to >>>The S&P at that time was about 100 points lower. What's more, while you may think bonds have bottomed, look what happened in August.<<<... Don't forget the dollar is worth about 100 S&P points less now than it was worth last summer. Ain't devaluation great while trying to prop up the tulips? <g>

Lee
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