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

To: Robert McHale who wrote (23406)	8/19/1999 10:23:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I think the low volume is a combination of summer vacations, uncertainty about the FOMC and uncertainty about the market in general. Market was due to bounce from over sold condition but we aren't the only ones that can look back and see September hasn't been the greatest time to be long so not a lot of folks out there that want to load the boat at all these "bargains" <ggg> Also J6P bought internets at teh top and is still waiting for that market thatalways goes up to make him feel rich again after losing over half his worth on his guaranteed get rich quick internet plays that have now left him with two mortgages to pay and maxed out credit cards. <ng> PS - Damage should be somewhat muted by Max Pain around 683 on OEX and I have support lines converging around 680 in early Sept like around the 3rd or so that are steeply increasin which sit around 670 and 675 right now but I think based ontime projection we shouldn't hit them for another week or two at least. My middle tine on my fork is around 693 or yesterday's close so the upside should stay fairly constrained there. (This is based on yesterday being hand drawn) Good Luck, Lee