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

To: Berney who wrote (19975)	7/13/1999 9:49:00 AM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Well, Bernie, after mostly being on the bull side since late May, I turned bearish on July 2nd and posted this chart over that weekend. I turned bearish, based on p/c ratios, vix and this wave count. bway.net which turned out to be 6 trading sessions off and the fifth wave was longer than i expected and yesterday we put in a DOJI which is many times a top reversal sign showing indecision - bears and bulls finding equilibrium. There is still a possibility that this is the first leg up of a five wave move and we are now going back to retest the breakout points, but given the incredible level of put/call ratios, i believe this correction will have some legs. The right shoulder on yhoo is looking done, as does the mongo h&s pattern on ebay. bwdik, bb