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

To: Smooth Drive who wrote (21835)	8/3/1999 10:39:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Eric Stevens: Thanks for posting your P&F chart of my Overall Market Composite Index. As support areas are falling one after the other, it is now wise to take defensive posture with one investment and retirement accounts at this time. Protect the "grub stake", one can always buy back in if the Market reverses and heads back up from here. Sure you are going to leave a few chips on the table, but that "is" always the price of insurance. I called this turn, but I must admit, I expected one last test of the upper trend lines of the rising wedges of several Indices. It is NOW highly unlikely this is going to happen. I suspect we may well see a rally in bonds as the Market begins to fall, a de-coupling. Anyone not in a defensive position with their portfolios, I highly recommend you get there! EDIT: A couple of Indices are banging on critical support, if these give...I will be glad I am in cash. If they hold, I will buy back in once follow through is demonstrated. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. Do not base any investment decision solely on anyone person's views or analysis. Do your own research and take responsibility for your investment decisions.