MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: Challo Jeregy who wrote (7446)	3/3/1999 8:38:00 PM
From: Lee Lichterman III	Read Replies (3) of 99985

I am not interested in oil. I don't care about oil stocks. I am trading whatever signals come out of my charts weither it be chewing gum or UFOs. I scan my data base every night and see what it spits out. My parameters are very strict and I cross check everything it recomends with other indicators. The only reason I brought this XOI signal to this thread is that all my indicators lined up but it made no sense from a FA stand point. The signal came, the index moved up 9+ points and the signal is now fulfilled. I won't care what that index does again until it either sends a buy or sell signal in the future. I try to trade with FA in mind but this market gave it up long ago. Stocks are going up right now with no earnings growth potential and PE ratios in the 5000 range and no I didn't add any extra zeros by mistake. I have many favorite stocks with great FA but the charts said sell and I did and they have fallen to ridiculous low prices and continue to fall. My personal opinion is that the good FA stocks have smart investors that know we are at the edge of the cliff and are running for cover. Therefore the "good" stocks are dropping harder than the hyped street darlings that the suckers are playing. This market resembles a casino more than a stock market and until the gamblers get taken to the cleaners, it will remain this way. I am only trading what my charts say is going to rise or fall, cross check it with a few indicators, weigh it in my mind for if it makes any sense then try to get the trade off by getting in grabbing a few points and getting back out before something happens. I wouldn't turn my back on this market right now short or long. J6P is willing to mortgage his house and run up his credit cards to Buy the dip as he has been programmed to do which could rally this thing at any time. Of course he will buy whatever the parking garage attendent says is a hot tip. On the other hand, fair value is about half of where we are right now so we could collapse under our own weight if money comes out to pay capital gains taxes on the cinderella stocks. Uncle Sam is salivating over those that bought internets and sold last year. PS - My personal view on oil is it is dead for quite a while longer. Good Long term investment but that is not my style right now as I think there will be a fantastic sale in the near to mid term future and will buy my long term stuff then. Lee

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