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

To: HairBall who wrote (19112)	7/1/1999 11:39:00 PM
From: StockOperator	Read Replies (2) \| Respond to of 99985

LG, Even though I haven't been able to write much lately I have taken the time occasionally to play catch up with everyone's point of view. I have to say that your calls of the past couple of weeks have been right on the money. And because I realize how often it must seem that your work goes unnoticed I would like to say congrats on some very fine calls. Of course you shouldn't let this go to your head the market will continue to offer each of us another day to "eat our hats." <gg> Nice work. In regards to the market overall, the more I look around the more convinced I am that we're about to see a blow-off top here. Many of the stocks that I follow are already exhibiting a speculative frenzy. Look at BAMM it went from 7.5-16.0 just today. Many other stocks are in similar type patterns as we speak. The trannies are just beginning to break, as a matter of fact most of the indexes appear to be on the launch pad. July could be a crazy month. During the past couple of weeks I have spent a lot of time doing some research, looking for some new stocks as well as playing around with some oscillators on the major indexes. Let me just say that I have found some interesting correlations using a fast stochastics on the DOW that has signaled almost every market drop since 1994. And in sticking to this analysis I am seeing a multiple point resolution all at roughly the same point on the chart. Unfortunately, I have no idea at what price point the overall avgs will be at when the downturn might begin, however I believe the time frame should be very accurate. Which should come in very handy IF the next decline turns into a sudden rout. As most technicans know calling tops or bottoms is probably the most difficult task at hand, following an established trend is always the easy part. I hope to get more involved on the thread closer to the month of August. I will be traveling and taking care of business over the next couple of weeks. Until then good luck and many profitable trades. Regards, SO