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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

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To: bobby beara who wrote (8015)	3/11/1999 9:49:00 PM
From: Lee Lichterman III	Read Replies (1) of 99985

Funny you would mention the oil sector tonight. I just got a partial download of data and on the XOI chart, my system just gave me a class 3 sell. Nothing to get over anxious about yet but it shows it either has to slowdown now or else it could reverse soon. Not a high probability signal but I tighten my stops when I get one. I also got minor sell signals on the DOW, BKX and the XNG. A few techs looked like they could take over the lead but with the blah news from MSFT, NSM and ORCL, odds of that just dropped a little. My short list is about 3 times as long as my long list and I don't like much on my long list. Just because my system says it is over sold doesn't mean it's a bargain <ggg>. Judging from a quick glance only, I expect the DOW to reverse by mid next week and the rest of the market to follow suit soon after. My TRIN cycles just reversed and are heading back up again. They sometimes make a false move but the other indicators are getting pretty toppy so I am gaining faith that we should reverse soon. Next week being triple witch, the pits trying to force feed 10K DOW and warnings starting soon should make this an interesting time to try and guess what is going to happen. I agree with Don that this is getting frustrating. I am just sitting on my wallet right now not liking anything long yet afraid to buy puts too early. My best put targets are unfortunatelly also some of the strongest stocks right now yet their charts and indicators are screaming short. Haim, thanks, This is the first time I had problems with reuters but it is frustrating. I got all my data after numerous attempts but just went back to try to get the US dollar data to look at it and the server is down again. Argggh. Good Luck, Lee

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