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

To: Benkea who wrote (22637)	8/10/1999 7:37:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Benkea, they sure look like they are trying to put in a short term bottom here... however, wave-wise i count the action from thursday's "panic low" as a 4 of 3 in a continuing bear market. i have no idea how far they will bounce, but i'd play any bounces strictly by the day. i think it's pretty obvious by now that the bubble has burst, considering the extent of the decline so far. of course there will always be opportunities to make money with these stocks, both long and short. btw, the ultimate short term contrary indicator was Ralphie A. issuing a 'sell' on the nutz exactly one day before the lows (so far) were hit... hb