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

To: donald sew who wrote (25335)	9/9/1999 11:17:00 AM
From: Lee Lichterman III	Respond to of 99985

Well I have to say I have been "befuddled" so far this morning. The OEX rallied when the bond and dollar were falling, then it dropped when they recovered slightly. Now they seem to be getting back in sync finally so maybe I can get a handle on them soon. TYX back down to the low of the day 6079 (higher Bond) and the OEX just made new high for the day @ 709.46. I will be watching the 711 area as that should prove as mild resistance from yesterday before the drop as it was acting as support. The jobless claims report is being shrugged off soI guess all eyes are on the PPI and rolling futures out to December. Premium has stayed well out of buy program range so far so it is amazing that the market has as much strength as it does. I guess the smart money wanted to get flat ahead of the PPIand so they are selling the nuts and other techs to J6P ahead of time at a tidy profit. The TRIN seems to be showing distribution well matched with demand. Still flat so far, afraid to short not willing to go long. May try to scalp a small bit later unless I can get a good entry for a short play later. Didn't trust my system and waited too long on my main short play which just dropped without me. Market starting to decouple again as I type this, TRIN up to 85 but bond up to a TYX reading of 6077. EDIT - Haim - Good Point Good Luck, Lee