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

To: GROUND ZERO™ who wrote (17902)	6/19/1999 3:04:00 PM
From: Lee Lichterman III	Respond to of 99985

Tough call this early IMO. The TYX is still within my fork but the weekly did form a tweezer top which is bullish for bonds and bearish for the rate. As usual, only time will tell. I wanted to thank Haim for posting AG's speech on the Kahuna thread. I took a few things away from reading it carefully that I missed before. He basically said near the end that he was willing to tank the market for the good for the overall economy about the 3rd to last paragraph from the end. He noted that 87 is only a blip in the over all picture of things. Also that if this market stays a bull into February it will be the longest one in history. Records are meant to be broken but usually aren't broken by a large margin. Hmmmm Benkea - You make a good point but will they be able to stand payments on those stocks or have them sold out from under them to meet margin calls better? <ggg> I have conflicting signals on the DRG pharmaceutical index. The daily looks like crud as does the BTK Biotech Index and HCX Healthcare Index. However the weekly is signalling the DRG has now approached the over sold levels and is near a fork tine. I know Jim follows the Spider index funds and I chart them though I don't post the charts. I noticed a couple of over bought signals when I was going through them today. Both the XLB Basic index and the XLI industrial select fund show over bought readings though they are not signalling hard sells yet. OT For anyone that hasn't seen "Bullworth", I just finished watching it and not only found it interesting but noticed it covered many of the things we have discussed on occassion here about how the few have too much. The beginning may offend some but as the story progresses it becomes fascinating and has a multitude of cameos. If we could only really have a Public official become so honest and tell it like it is. Good Luck, Lee