Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Les H who wrote (20066)	7/13/1999 6:16:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Les, the exchange rate of the renminbi is determined by the market? since when? he must mean the black market, in which case a devaluation is indeed assured. regards, hb

To: Les H who wrote (20066)	7/14/1999 6:30:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

Les, thanks for the updated on Reuters. I have been extremely busy so the market has been on hold for me. The market's reaction to INTC missing showed me that this market will ignore Argentina, earnings misses and any other bad news only to focus on fairy tales of better times ahead. This means we stay biased upwards for now. The AAPL earnings will be Wednesday ( I saw bad data that had said they would be Tuesday) and the CPI and PPI data will be released this morning and tomorrow. I think the market is going out of it's way to ignore bad news and is trying desperately to find something good to rally on. If any of these releases are good, we could move up strong here but with the market hanging the way we are and a fair amount of bad news here already, any one of these could also be the straw to break the markets back. I haven't had time to properly analyze the market to make a definitive call here but my TRIN is showing that we should start heading back up fairly soon, probably next week. I do still think it could go either way short term but as I mentioned, if they can bid INTC up after they missed whichI feel is ridiculous, then fairy tails are more important than facts. MU has been expecting a turn around for 3 years and they haven't made any money yet. As I just wrote on another thread and mentioned here in the past, I received a mailer from DELL where they are selling systems with all the latest fast cards, processors, memory and extra bells and whistles for what a bare bones no name system was selling for a few months back. Anyone that really thinks that anything to do with the PC industry will be stronger later this year can buy my brooklyn bridge.com stock I planon accumulating long term puts on this rise in many different issues relating to this sector and will add into mid August. Fantasy and Dreams can last a while but eventually even Rip Van Winkle had to wake up and face reality. I feel we are at a make or break point and most of the option positions have had a chance to be unwound so now that the time is here for the economic data, we should be able to make a run here. As I said, I haven't been able to do my homework due to time constraints, but I think the market is biased up but with all the bad news with higher oil, Argentina and China rumors, Various market leaders coming in with ho hum numbers etc, that if these numbers aren't good, we could move down from here. Last week I said that there was no way we could be flat this week. Well as soon as I pull my foot out of my mouth, I will walk away from here and go back to work. The action so far this week seems to be a mixture of wanting to go up but no reason to do so, and waiting for the releases due today and tomorrow. I show the TYX due to bounce here so I expect at least a short term dip inthe bonds soon but expect them to still be in a longer term rising channel with lower rates on the way. The internets look ready to bounce also but I have sell signals on a few of them so a shotgun approach will not work this time. The oil indexes may have formed a tweezer top here but I didn't have time to look close enough to see if it was genuine or not so I am not going to make a call on it here. Good Luck and I hope to get some time later to do a better job of contributing. PS - In response to some PMs etc I have been getting, I have started making my charts smaller. Hope this helps. Lee