Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (16613)	6/9/1999 9:16:00 PM
From: donald sew	Read Replies (1) \| Respond to of 99985

Dennis, >>>> Wow, Dow 14,000. That seems nuts to me. But Favors nailed it last year. He blew the bottom in October, however. Bearish all the way up.<<<<< 14,000 would not surprise me, since I am suspecting a blow-off top. I am expecting strong runups after this 9-month cycle is over, which is JULY 8. Now if these runups are just a continuation of what we have seen, such as narrow rallys on relatively weak market internals and that rotational type of rallys, then I will conclude that this correction did not correct the abnormalities, and that that market is still unhealthy. That doesnt mean that we cant go higher, since it is now easy to move the market on limited liquidity as we saw during this sector rotation pattern since APRIL. And I would not even be surprise if we blew right by 14,000. I realise that many would want to see 14,000, expecting broad based rallys. If those rallys are not broad based, just get ready to initiate puts. seeya

To: dennis michael patterson who wrote (16613)	6/10/1999 1:48:00 AM
From: Lee Lichterman III	Respond to of 99985

I would not rule that 14K out. As I posted to LG yesterday, prior to the DOW breaking down, it was forming a beautiful inverted H&S formation that measured to 14K. I believe I mistakenly said on the hourly chart not realizing I was using 216 minute. Also if it does not break down further from here, it could still form an uglier one that would still be a possibility and if for some reason the dow were to go flat to up from here, on the 120 minute chart, it is a perfect bull flag pointing to higher prices. Of course the short term indicators say no fast rise right now and we have the day 3 curse tomorrow so I am hoping for a little more break down tomorrow and some capitulation of the bulls with heavy volume selling so we can clean house then resume the next up move on healthier legs as LG stated earlier. Too many willing to buy the dips without fear right now which is not healthy. A little fear would help us long term. We have dropped 400 points on the DOW and still have a VIX around 24. No fear out there at all. Sorry, just realized I forgot to add your chart again tonight. WIll try to remember tomorrow. Good Luck, Lee

To: dennis michael patterson who wrote (16613)	6/10/1999 9:05:00 AM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Dennis, could you please elaborate on Carpino's latest call? OT: i have no news yet on your Bernhard related enquiries, i was too busy lately; but i haven't forgotten and will definitely come back to you on that. regards, hb