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

To: Lee Lichterman III who wrote (28455)	10/5/1999 4:11:00 PM
From: Matthew L. Jones	Respond to of 99985

Lee, If you recall, a couple of weeks ago I was strongly negative based on T/A and S/A alone. I was short the NDX in a big way. I finally had to say, you can't fight the tape. Eventually this thing will have to work itself out, but I am not going to go broke swimming against the tide. I feel your pain... but if the market should go down and it doesn't, the old timers will tell you it's going up and going up strong. Matt

To: Lee Lichterman III who wrote (28455)	10/5/1999 4:38:00 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 99985

Lee- I agree with most of that. I was yelling about the casino mentality of this market last fall on the BK thread. The lunacy combined with the falling A/D line has caused me to stay out of the big casino since last summer. The A/D line has proceeded to hit new lows several times since then. If you have been lucky (or smart) enough to be long the handful of stocks that have held the indices up- more power to ya. I am not that smart (or lucky). Fundamentals have won for the most part. There are a few sectors and stocks that have bucked the fundamentals, but they are sparse. I have done quite well going long gold stocks, however- so don't shed any tears for me. <g> BTW- I closed all my gold longs when the obvious gap up reversal in the XAU occured this morning, and am flat. Am expecting a turning point near the new moon which is this weekend. If we continue to rally till friday, I expect it will be a top. BWDIK, TW

To: Lee Lichterman III who wrote (28455)	10/5/1999 4:46:00 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 99985

BizNews, 4/12/2000: Today, the Nasdaq Composite set a new record. Although there were 1452 new 12-month lows, the Composite was held in positive territory by the one new 12-month high. MSFT, the one stock trading on nasdaq which went up, was up 73 points, for the 17th straight day at an all-time high. At a hastily-called news conference held 30 minutes before the markets closed, Mr. Gates screamed at a room full of reporters, "Sell, sell, sell. This is insane. It can't go on. Please, I'm begging you, sell MSFT".