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

To: Challo Jeregy who wrote (22640)	8/11/1999 12:10:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

Challo, Thanks for the kind comments. I am glad some of my lines are holding but I do feel I have been a bit negligent in my charts lately due to limited time. As for the market. I see a lot of talk tonight about this is the bottom. While the recovery in the indexes and internets was impressive, looking at the stocks I track, I saw a lack of any real volume and I am reading a lot about buying this dip already. Looking over my individual stock charts and most of the sector indexes, I see nothing really bullish. Transports did not bounce and most stocks didn't recover that much. I see only a few bullish signs. The TYX MIGHT have formed a small hanging man today and is ina good spot onmy forks to pull back short term. Also I show the XAU gold and silver index hinting at a reversal soon with the same being said for the Oil sector indexes. Bearishsigns are plentiful with most already being mentioned here such as the high new lows on the NYSE, bearish TICK, TRIN, broken support lines and high number of stocks that have now fallen below their 200 DMAs. I am however starting to think about dipping myself later this week or else next week when I hope to be able to watch the markets all day and trade the option unwindings. Just got interupted and lost my train of thoght so will leave it at this. Good Luck, Lee