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

To: HairBall who wrote (20507)	7/20/1999 8:01:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Many companies reporting good earnings this morning. Based on the futures, it would seem at first blush, that investors have bought on the rumors and are now selling (taking profits) on the news. Regards, LG

To: HairBall who wrote (20507)	7/20/1999 8:44:00 AM
From: Robert Rose	Read Replies (1) \| Respond to of 99985

<This is not a time to be complacent if they are broken not just breached, one should take defensive action. > LG, how do you distinguish between the two? tia, Rob

To: HairBall who wrote (20507)	7/20/1999 8:50:00 AM
From: bearshark	Read Replies (3) \| Respond to of 99985

LG: I am still looking for a good move up beginning this week. If it does not happen, I will be wrong. If I am wrong, then this market has changed personalities from the one that has existed for the last several years. One thing I would be concerned about with internet stocks is this chart. It is the IIX but it looks much the same as the DOT and other internet indexes. beta.iqc.com You can see that the apex was tested and yesterday there was a significant breakdown. The DOT did worse. If the apex is not taken out soon on the upside, then the internet indexes may be in the second leg down of their bear market. If they are in a bear market, then the losses in that sector will be huge.