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Strategies & Market Trends : MDA - Market Direction Analysis

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To: bobby beara who wrote (10336)	4/8/1999 8:48:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Bobby, the internet sector remains my biggest worry. wall street has concluded that since the sector didn't drag the whole market down when it corrected last time that the same will hold true next time. not so, in my opinion. the market seldom does what people expect, and the speculative fever in the net stocks is bound to end badly. another thing i predict is that since we have become used to big corrections being reversed in no time at all, very few people will recognize the big bad bear when it finally begins it's reign. but i am loath to call for a top while the financials continue to be strong and heavy OEX put buying is in evidence. i probably won't get the 'ideal' scenario i'm waiting for to identify a top, but at least a few more bears should throw in the towel. 'ideal scenario for a top' see reply #9652. hb

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