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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: bobby beara who wrote (11519)	4/20/1999 3:14:00 AM
From: Jack Luo	Read Replies (1) of 99985

bobby, >>>>> IOM PRST MRVC all objects of love and adoration in 1996, where are they now? The prospects of these stocks were just as bright at their peaks as the nets are to investors right now. <<<<< I have to disagree with you on this one. IOM and MRVC are not in the same level as many Net stocks. Net stocks are way overvalued, no question about it. I couldn't even put a 200dma curve to a lot of net stock charts because it is out of the chart window frame and sometime out of my 19" monitor screen. <g> Net leaders will be back. Some smaller players will be history and replaced by new comers. I am very bullish on the future of the Internet. Huge potential is there. But this market needs a 20+ percent correction to get healthy again. >>>>> They have already rocked. My recent elliot analysis was dead wrong the recent top was 5, 3 topped 1/12, 1 topped 11/30/98. <<<<< I don't quite follow your above comments. Which chart are you talking about, DOW? NAZ? or SPX? Any new e-wave charts to share? Jack

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