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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: Vitas who wrote (9468)	3/30/1999 8:33:00 AM
From: bearshark	Read Replies (1) of 99985

Vitas: That is what my numbers looked like too. I started with early 1998 figures. Some day, the A/D line will overwhelm the market. However, there is a lot of money around that is concentrated in a relatively small number of individuals who dump their funds into a smaller number of stocks. They are calling the shots and they make the INDU and INX sing. Yesterday, the block money moved quickly out of RUT stocks and into INDU and INX stocks. It certainly looked like a mad rush and it was consistent with some type of top. There was no volume but it could show up this morning. Maybe we will have a 5-minute selling spree. Yesterday the funds showed what they like. Give me GE, give me GE, give me more of GE, is what they screamed. Hell, it is an 11 per cent grower with a paltry PE of 40. Its only real impediment is it has profits. Without those, it would be soaring. There is no room in this market for thinkers. Just react. Buy the dip. Some day this market will meet its end. Let's just hope we are not in it on the long side when it happens

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