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

To: stockycd who wrote (22885)	8/13/1999 12:41:00 AM
From: Lee Lichterman III	Respond to of 99985

POssible. I am in total agreement that tomorrow's PPI is the key. I am also watching OEX 670 closely as there is a support line there that is key to the next down turn, if it fails on a closing basis, we could reachmy targeted 645 after all. Still with expiration next week and over 10K puts at the 670, 660 and 650 level, I doubt they want to let it go much lower. I am still seeing signs of accumulation but until GE, MSFT, WCOM and other market generals show some strength,I don't trust this market. The SOXX is starting to weaken and my sell signals are turning faster than normal. I didn't even have time to get myMU puts today before it tanked without me. Normally I get 3 days warning to start a position. I still believe intra day trades are the safest bet right now. I am awestruck at the number of stocks below their 200 DMAs and falling out of long term forks. I still think there will be some sort of bounce later but for now, things look real shaky. We are approaching earnings warning season soon so not much to spur us upward in September either. Still I am focusing more on day to day now than mid or long term. Good Luck, Lee