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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: Compadre who wrote (13931)5/14/1999 2:17:00 PM
From: StockOperator  Read Replies (2) of 99985
 
Jaime,

Remember nothing is as it seems. Tuesday is the big day and many of these tech stocks have huge short positions. Which leads me to believe that a downward draft in the INDEXES may actually mask accumulation of key stocks at some of these levels. I say indexes because many stocks are actually holding up well so far. Plus as I said there are huge short positions established. Besides, the longer term trends for many of them (as of yesterday) are still intact. That was one of the main reasons I thought a violent "shakeout before the breakout" was a possibility.

But like I said I wouldn't attempt to catch this "falling" knife. Too dangerous imo.

Regards,

SO
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