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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 660.08-0.8%Nov 18 4:00 PM EST

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To: pater tenebrarum who wrote (10294)4/8/1999 2:22:00 PM
From: Robert Graham  Read Replies (1) of 99985
 
Thank you for your feedback. When you talk about money flows, do you mean tick-by-tick or large block money flow? I like the option angle on monitoring those type of stocks. I understand that the secondaries will have their play. But after the primaries started to correct in the Internet leadership, money then left other tech issues including many of the blue chip types of tech stocks to move to the Dow and S&P 500 type of stocks. This is one reason you are seeing new highs made in the DJIA while the NASDAQ is still trying to recover. This money left a *market*, the NASDAQ, not a subsector or even sector of stocks. IMO this is a more fundamental change in the trading pattern of the market. Time will give or take away credence to this.

Also I have seen that even under negative market conditions during the sell off process you will find the public gambler active in the Internets. When they decide to lay off this type of stock, then that is a very significant event. Every time they have in recent history, the market moved up. The normally perverse results of sentiment in action here.

I see the market is attempting a break out right now. The NASDAQ is in sync this time which is a good sign. First push failed, but I see another coming.

Bob Graham
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