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

To: donald sew who wrote (16986)	6/12/1999 2:12:00 PM
From: Berney	Respond to of 99985

Don, While we are in a complementing mode, my hat's off to you on your fantastic market analysis this past week. Your third day washout concept has been an eye opener for me. Berney

To: donald sew who wrote (16986)	6/12/1999 4:06:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

Wow, I thank you for that. Of course you do realize you are the equivalent of the Dahli Lama or grand guru of SI like it or not, I know you commented in the past you are not comfortable with that but your system is awe inspiring. I just hope you have that formula put away in a safe place for your next of kin. I just finished watching Pi and I think you found what he was looking for and managed to live through it. You are obviously pure. <ggg> I am running waaaay behind today so my charts are not updated and won't be for a while longer since Saturdays I tweek and study the charts instead of just posting them. The Weekly individual stock charts and the PnF charts on my site are updated but the regular and 3 line charts are not. I haven't started on the MDA site at all yet and hope to be done with all of them in another 2-3 hours. Since I am not done, my analysis is no where close to finished however I want to comment on a few things I noticed already. I feel a further decline is pretty much guaranteed though I am not sure if it will get really ugly or not. A couple weeks ago I projected that we would visit 1300 again on the SPX and DOW 10450. We met those targets Friday. Now that we have made it to those levels and the time frame is closer, I see a better target of DOW 10200 pretty much guaranteed, NASDAQ 2400 and the possibility of NASDAQ 2150 and an SPX target of 1250. On the other hand, I see some key stocks showing that they will make a brief dip then bounce to levels higher than last week. Some one commented that the ARMS index was signalling a turn back up. My data does not show this. If anything, we are in the infancy stage of this decline which should last at least a few more days to a week. Many stocks I track are showing a 5-10% further drop. Looks Like I sold my puts way too early. My TYX chart is now at a level 1 over sold and it is at a PnF resistance area though the blocks are large so they are a bit sloppy. OJ - What size blocks do you or TomDorsey use on the TYX? I should know more later. Good Luck and thanks again for the kind words, Lee