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

To: uclatrader who wrote (21919)	8/3/1999 6:17:00 PM
From: American Spirit	Read Replies (2) \| Respond to of 99985

Let's start a call the bottom contest. Whoever wins gets listened to and attains the rank of guru. My prediction is when MSFT and/or AOL hits $80. That means another 5% down on techs. Ouch. Sold off half last week but still holding and watching quality stocks dump toward capitulation situations. Since everyone's so afraid of an october crash maybe we're getting it a bit early this year. This is mostly psychological you all realize that.

To: uclatrader who wrote (21919)	8/3/1999 7:02:00 PM
From: pater tenebrarum	Respond to of 99985

shuo, based on put/call ratios and the oversold condition i believe we could get a more convincing bounce anytime...however, i am currently inclined to short the bounces (i mainly use QQQ and SPY for that). i don't believe at this time that the correction is over(although Favors says otherwise<G>). i am scaling carefully into short positions on some sox components , which haven't corrected yet, im still short some financials and covered one nutz short today and have one still open (e-bay). regards, hb