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

To: donald sew who wrote (29123)	10/12/1999 5:09:00 AM
From: Matthew L. Jones	Read Replies (1) \| Respond to of 99985

Actually I was just kidding <VBG>. This thread is hardly composed of the j6p crowd. IMO, it all comes down to time frame and actual stock. For example, I could make both a bear and bull case for QQQ right now. On a short chart (60 minute or less) it is clearly overbought, however on a day chart or longer it (amazingly enough) is still in an uptrend. I think if we were more specific in our time horizons when making our prognostications, there would be less misunderstanding. I should have put "<g>" in my tongue in cheek comments. Matt

To: donald sew who wrote (29123)	10/12/1999 5:12:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

What are you doing up at this hour, I thought only idiots like me were up. <g> Futures just dumped a few minutes ago. We are now in sell territory. Confusing times like always lately. I don't see a large decline yet but I am getting a lot of over bought signals but most are still short term signals and not the type that signal larger drops. My longer stuff points to another week at least and it could take as long as the end of the wedges you pointed out. Maybe it will be the trade report Next Friday that does it. With INTC reporting soon, SUNW and PMCS Thursday and MSFT next week, they should drive the short term I would imagine. Personally I still think we could get a bit more upside before we finish but my track record is not doing well lately since I have been too busy to do my usual DD. I am still inclined that we are in a flat trading range bouncing around in a search for direction until the jitters over the November FOMC takes over from the current steering from earnings. Earnings = positive bias, FOMC = negative bias. Well I am off to work soon so I am going to get another cup of Joe and watch the futures some more. Good Luck, Lee

To: donald sew who wrote (29123)	10/12/1999 4:09:00 PM
From: stockycd	Read Replies (1) \| Respond to of 99985

donald, I would like to echo some of the points you expressed in your post. This thread has historically had very good luck calling major tops but is not quite as good and major bottoms. If one would notice the regular posters on this thread, I don't think there is a short-term bias either bear or bull. One possibility is that the reader doesn't understand the context with which the poster is expressing his view. I find myself posting messages, often realizing that I was sounding very bearish when in fact I may have been bearish on a sector or a couple of stocks. That part may have been lost in the discussion or buried in the facts. I also find myself not clear on time periods, ect. Bottom line, most of the thread is correct more times than not... Chris