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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.83

+0.3%

Dec 3 4:00 PM EST

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To: donald sew who wrote (14129)	5/16/1999 11:01:00 PM
From: Monty Lenard	Read Replies (2) of 99985

"the contrarian position should not be ignored" I agree. The day will come but unless it comes fairly soon it will take at least a 50% correcting to make up for what has been missed on the upside. NG You know everyone keeps saying that some SINGLE event will cause a major correction but I am beginning to believe it will be an accumulation of many small things that will cause it. In other words, it will sneak up on everyone. I just can't get out of my mind the kind of distribution I witnessed Friday. I can't remember seeing anything like it. Only in the 1st 30 mins did the adv dec volume ratio ever get above a negative 35% or so. Other than that brief period it was just solid selling. monty

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