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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 675.02+0.9%Nov 25 4:00 PM EST

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To: bobby beara who wrote (14707)5/23/1999 11:39:00 PM
From: Lee Lichterman III  Read Replies (1) of 99985
 
>>i believe the xci will minimum sell down to 800 support<<

Possible, as you can see on my chart of it, 850 area will be the test since right now it is playing with both the up and downward forks. If 850 is violated then your 800 target will be conservative for the drop since 750 would possible according to my down fork with a little prodding from the over all market.

Interesting read I picked up on the Gold Thread tonight...
<<Mr Rene Rivkin, the self-proclaimed sharemarket prophet, yesterday warned that trade in Internet stocks was out of control and on the verge of causing economic collapse in America and havoc on world financial markets.

Mr Rivkin told the World Masters of Business forum that traders in Internet shares were ''gambling their heads off'' and had forgotten all about the fundamentals. ''When it collapses, it will affect America and the world economy very, very badly,'' he told an audience of 5000 corporate leaders and investors.>>

theage.com.au

*OT* Also bb, I saw you over on the EMC bashing my kid's stock. <ggg> That is what I get for not buying them the one I planned to for a year. That one is up almost 100% and EMC promptly tanked soon as I bought it for them trying to BTD at 116 with a half position. Oh well, they have 16 years to wait for a bounce. Hope the bear doesn't bite before I can get them out with a slight gain on the split.

Good Luck,

Lee
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