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

To: pater tenebrarum who wrote (17677)	6/17/1999 9:26:00 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 99985

09:18 ET Micron Technology (MU) 46 1/2: Needham & Co downgrades DRAM chip maker's shares from "hold" to "avoid." MU shares rose 3 1/4 yesterday.

To: pater tenebrarum who wrote (17677)	6/17/1999 9:47:00 AM
From: j.o.	Read Replies (2) \| Respond to of 99985

Heinz, I suspect that we saw yesterday a perfect set up for a big downmove. In terms of sentiment swings, I have seen a lot of short-term sentiment roll over in a big way to the bull camp. But when I look at the (admittedly impressive) move yesterday, I can't help noticing that despite the euphoria, we are still below the highs made on the 7th/8th of this month. Now that, combined with the fact that so many are raging-ly bullish at the moment indicates to me that this move is tearing away the short-term bearishness which kept us from moving below 1275/1280 in the S&P. I now expect us to begin our next big downleg. Look at the flash-return of net-euphoria yesterday. That's not bullish, as far as I'm concerned. And AOL and CMGI, while they could move a touch higher, have largely satisfied their requirements for a retracement. The next downmove would be the death knell for those who were in margin-danger last week, and "narrowly escaped"...only to buy more yesterday. As you say...nobody sees a break coming after yesterday's price action, do they? (now I'll probably get my contrarian butt kicked <ggggggggggg>) j.o.

To: pater tenebrarum who wrote (17677)	6/17/1999 11:01:00 AM
From: KM	Respond to of 99985

Well, if it's going to happen, let's do our best to get in there and be short. That could be a retirement move <G>

To: pater tenebrarum who wrote (17677)	6/17/1999 12:09:00 PM
From: Berk	Read Replies (1) \| Respond to of 99985

Heinz: Or you see it coming but you think it's just around the corner, not right now! That was the case in 1987: Prechter was widely followed and looked for the top after, not during October.

To: pater tenebrarum who wrote (17677)	6/17/1999 9:37:00 PM
From: James F. Hopkins	Read Replies (3) \| Respond to of 99985

HI HB; Well I was hoping I'd be on the right side of the curve but it's got me dancing in and out so much that the broker is making all the money, I'm just backing up. It's not good enough to go long and just hold, and trying to short and cover they get you on both ends with the spread commissions , and a little skew ( as I have to short at market ) & you miss it a little here and there and it starts adding up. Actually other than Yesterday this thing has just been bobbing up and down and not going anywhere. We Still now have that gap up to fill , and dammit indexes do not leave gaps they don't go back for, stocks might but if this don't fill it will be the first one I ever saw. It may be a week, but it will fill that GAP or if it don't then we can truly say we are in a new age never before seen by man. Jim