MDA - Market Direction Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: bobby beara who wrote (8027)	3/12/1999
From: HairBall	Read Replies (1) of 99985

bobby beara: The rally since Oct has been led by the big cap tech stocks and the big cap blue chips. Fewer and fewer stocks have been participating. As you know many stocks have already gone through a bear market rotation hidden beneath surface of the Indexes. A few large caps and the energy sector (the laggards of this Bull Run) have powered this latest run up of the Indexes. That is a classic topping scenario. I felt late last December that the market would take six to eight weeks to reveal a topping process and it did just that. I suspect we will reach 10K on the Dow. If I had to guess when, I would guess next week. I doubt the Dow will rise much above. But, it is NOT necessary for the Dow to reach 10K for this rally to find its top. I have been expecting by late March or early April, the big caps that have powered up the indexes since Oct will correct. If I were being cynical, I would think the Big Boys would want to get as much of the IRA and 401K Money in the Market before a correction as possible. Would that make April 15th as the watch day...<g> However, the market could begin a decline at anytime. At the least, this will be a strong move down and may challenge the Oct lows. Will it be a BK? I doubt it. However, I will stand aside until the market finds a bottom and reverses. BWDIK as always... Regards, LG

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next