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

To: Terry Whitman who wrote (26104)	9/16/1999 5:05:00 PM
From: 10K a day	Read Replies (2) \| Respond to of 99985

Weekly spx & oex look horrible, Daily spx oex look scitzophrenic, high tight flag, hell i don't know... OLB's and NITES @ important resistance levels, AOL acting like a POS, YHOO,EBAY, Looking tired to me... I really don't want to go down.. Cramer says we're OK.. i'm so confused...

To: Terry Whitman who wrote (26104)	9/16/1999 5:09:00 PM
From: Benkea	Respond to of 99985

"Only 1 out of 4 went up today." quote.yahoo.com With all fairness, look at the up vs. down volume.

To: Terry Whitman who wrote (26104)	9/16/1999 5:13:00 PM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 99985

I assumed that the sarcasm was obvious. Yes the A/D is sick, the new highs/new lows is even worse. The transports are the worst in ages and the increases are on the backs of fewer and fewer stocks. However, most stocks are way oversold (not to be confused with undervalued) and in the absence of intense selling pressure, will in the near term turn upward IMO. Matt

To: Terry Whitman who wrote (26104)	9/16/1999 5:15:00 PM
From: pater tenebrarum	Respond to of 99985

Terry, they have to...lots of open OEX puts wait to expire worthlessly. btw, i want to add to my earlier comment about somewhat excessive bearish sentiment, that one has to consider that most of '99 was characterized by an unusual degree of complacency. dollar volume in OEX puts was at extremely low levels all year long and sentiment polls showed bullishness at extremely high level throughout the first half of this year. so the current bearishness, which is after all well founded due to the deterioration of market internals, is good for a short term reprieve at best imo. also, the markets increasing volatility is not a good sign. often topping and/or bottoming processes are accompanied by a sharp increase of volatility. since we're much nearer to a top than a bottom (except maybe in the trannies<g>) the volatility constitutes yet another danger sign. we need some high-volume capitulation selling, especially in the currently favored sectors...that would make it a lot easier to adopt a more constructive stance. regards, hb