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

To: Compadre who wrote (17607)	6/16/1999 5:00:00 PM
From: garrick le	Respond to of 99985

It could be profit taking by the close tomorrow. We may well be in a trading range unless Nasdaq breaks 2600 then we may breakout. Of course I am just following you guys ' analysis and try to learn. As far as technical analysis,I am green in that area. GL

To: Compadre who wrote (17607)	6/16/1999 5:25:00 PM
From: Stephen	Respond to of 99985

Although the volume was not totally convincing, the buying on pullbacks throughout the day was telling imho. The intraday weakness of the TYX.X hardly caused a ripple before more buyers came in, suggesting there was less selling into rallies. Also, whilst AOL has been tanking, there has still been institutional buying for at least the last 3 trading days. So ... whilst there may have been technical buying because of option plays, sentiment may be turning again. If we get an up day tomorrow on good volume .... next week should be strong. I did note that some secondary issues actually weakened throughout the day, even as the indices were getting stronger ... but I'll take that under consideration for now. My intradays looked good all day. Stephen