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

To: James F. Hopkins who wrote (24601)	9/2/1999 3:46:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Well I wish I knew what to tell you. My chart on XLF is signalling a buy but I also show it was at resistance as of yesterday's close so mixed at best. Also as I said, my signals don't work well in strong moves like it has had recently. This market wants to go up bad. The Bond tanked on the close but the indexes are rallying putting all that fund money on the table betting for a good report tomorrow. I almost went short on the pop to 693 OEX but the strength is too good and it is too close to closing now. I should have bought that higher low and higher high I guess but the bond was nasty and still is. I think we are just so over sold that we refuse to tank unless the news is so bad it breaks the market's back. J6P weekend, fund inflows and excessive speculation are fueling this now. I found it interesting earlier that GE finally broke below 112 and MSFT was down below 92 yet the market wouldn't conceed. That is when I decided to not hold any shorts no matter how bad it looked other than a day trade. Premiums are outrageous now so I can not even put a stradlle on. All cash and waiting. I have to go back to dayshift tomorrow so you all don't have too much fun without me. <gggg> Good Luck, Lee