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

To: wmwmw who wrote (19917)	7/12/1999 9:29:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

EDIT, I don't think so this week. I thought you said 11500 which is highly possible given the flag and/or wedge forming. Good Luck, Lee

To: wmwmw who wrote (19917)	7/18/1999 11:55:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Just wanted to see how your week went. You chastized us for our caution last week and when pressed, gave a prediction for a 300 point upmove inthe DOW last week. I show the DOW started from a close the previous Friday at 11194 and closed this week out at 11210 for a total of 16 points. Of course some stocks like MSFT went up and some stocks like the nuts fell but over all we did not miss out on much by waiting for our entries on specific stocks versus using a Monday morning shotgun approach of panic buying. Not trying to start a war but thought I would apply the same scoring that we were critiqued for. As I said, we tend to focus on the short term and hence I firmly believe no one was wronged by the advice on this thread. Just thought I would see what the bullish side had to say. I will come right out and admit that I for one have no idea about this week as I still see mixed signals and therefor am going to apply some caution once again. I have a list of a few plays both long and short that I will be playing in a modified straddle type approach but with a very small portion of my ammunition. I am mostly looking short though and will weight my plays Monday in that direction playing the longs based upon how the market acts as I feel my short plays will pan out regardless of the over all market but the longs will be more Mo Mo driven. Longer term, I still feel that this will end in a blow off top but it is not exactly playing out how I would have hoped. I was hoping I could just buy up OEX calls and let them run but the lack of proper set up erases that simple ploy. Still I see the possibility of a blowoff hitting targets like DOW 11900, NASDAQ 3100, SPX 1479 and OEX 755-760 based on fork projections. Like I said though, I was hoping for a little better lay out setting it up instead of our record low VIX, Put Call ratios and failure to have enough of a head start into this earnings week to allow for such a blowoff. Because of this, I am being more selective and sticking with my hit and run methods of the last few months. Counter views??? Good Luck, Lee