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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: pater tenebrarum who wrote (16048)	6/4/1999 9:46:00 PM
From: bobby beara	Read Replies (4) of 99985

Heinz, i think ground zero and "brother can you spare me a quackeybit" orenthal juice -g- is right we gotta another bull leg up with another top coming in July or August. The Dow bounced right off it's trendline from october and march. The fact that AOL has now been able to negate the descending wedge and reverse up so many times above support is bullish to me. This descending wedge is a classic mania topping formation. I've been hearing a lot of talk about fundmanagers dumping their techs to buy value. Just heard today Vinik was dumping. Maybe this amount of bearishness in the leading techs is enough to bottom the sector. Intel retested it's October 97 high and closed the breakout gap from last november. In january the talk was that Intel was the must have low priced technology stock, now people are talking about dumping tech and intel could have just made C of a 5 month long ABC flag. Intel and Microsoft were the two most actives on the nasdaq today, if these can get in the swing of things we gotta rumble, in the may/june period last year soft spent 6 weeks in a narrow consolidation channel before breaking out, we have something similar here with tightening bands. bwdik, bb

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