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

To: donald sew who wrote (24092)	8/29/1999 12:26:00 AM
From: Berney	Respond to of 99985

Don, I'm not expecting a large sell-off either. I'm only 76% cash. If I was expecting it to be large, I'd probably be closer to all cash. <g> Berney

To: donald sew who wrote (24092)	8/29/1999 11:40:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 99985

Donald.... candlesticks readers huh??<g>... i just looked at 5-6 indexs on P&F...SPX-OEX-DJIA-SPU9-DJU9-NDX-NASD ETC... all of these indexs were extended when they peaked at DOW 11350.....all are pulling back toward the middle of the trading band...a normal phenomenon... when we had the recent correction in the NAZ of 15% many P&F indicators were still on sell signals...since that correction 3 short term indicators have turned positive and have made a trend change...bonds have fallen below 6% as well... the Hi/Lo index, the percent of 10, and the Optional Bullish Percent, all have turned higher from very oversold levels... in the face of 2 consecutive rate hikes, with an expected slowdown of the economy, and y2K coming into play, my guess is that AG will NOT raise rates again..and because of the negative seasonality of the markets overall during this time frame, i would think we'll slowly trend lower and settle somewhere in the middle of the trading bands noted on all the above indexs... i have the distinct feeling, that earnings will be steller again this fall, and the markets will rally ahead of these expected results...in fact never in my history in the markets have i seen such power in the face of 2 rate increases... now the only other problem i see out there...is if AG DOES in fact raise again...that would be the death knell for the markets...i can not remember when the markets corrected 10-20% within 30-60 days of another correction... anyway i AM begining to SEE the sticks a bit better now<g>... my regards..OJ