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

To: NucTrader who wrote (17850)	6/18/1999 9:47:00 PM
From: Casaubon	Respond to of 99985

I'm not really interested in buying IBM as a long. I'm only suggesting the chart formation has a short term upward bias. The chart pattern has not yet confirmed. The point I was trying to get across is that, IMO, the market won't advance without a concommitant advance of IBM. As of now, the chart on IBM is hinting at short term strength. If this occurs, and if the stock then gives a reversal signal, I will try to enter on the short side, based on my belief that the whole market is wildly overpriced. It's like winding up a coil. The IBM coil is wound to maximum on the long term (monthly) scale (as guaged by stochastics), and also the midterm scale is wound tight (again the weekly stochastic is maxed). When the short term stochastics are wound to the max, it should snap like a spring.