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

To: Lee Lichterman III who wrote (29125)	10/12/1999 6:56:00 AM
From: donald sew	Read Replies (2) \| Respond to of 99985

Lee, >>>> What are you doing up at this hour, I thought only idiots like me were up. <g> <<<< Firstly, it was about 5am my time when I wrote that message, which is not really that all that early since I normally wake up at 5:30-6:00. To make you feel bad (GGGGG) you are in the MOUNTAIN TIME ZONE and thats really early. Dont take me serious for one second. gggggggggg >>>> 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. <<<< Yeah, I agree. I may be making too much of the issue, but it is quite obvious that the market is trading from one economic report to another. And if the TRADE DEFICIT REPORT is bad next week, which I am suspecting, then that should be too good for the market, and could ignite stronger selling if the news is bad enough. With the NAZ at such high levels, Im not sure if good earnings can push the overall market up alot higher, since I am suspecting that good earnings are already priced/partially priced in. seeya

To: Lee Lichterman III who wrote (29125)	10/12/1999 3:36:00 PM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

>>my track record is not doing well lately << So much for my minor pullback, this is starting to get ugly fast. Any news other than the usual falling dollar and bond interest rate at 6 1/4%? DOW and NASDAQ approaching critical support levels here. if we fall further, we could be in deep doo doo. To think I was pricing OEX puts yesterday but didn't want to turn my back on the market, sheesh I could have gone to sleep and traded this. Dennis, you looking to dip into this or do you feel this is ugly enough to warrant waiting for the bounce. I assume if Don's 3 day pattern holds, tomorrow could be slightly up under the disguise of INTC's report then Thursday we fall farther? I am not seeing heavy selling of the favorites yet. SUNW, INTC, only slightly down. RMBS up big etc. It seems for once the tides are reversed. I see many stocks only slightly down but the indexes looking worse. Must be the broad based selling as everything is down a little? A/D horrible but no serious stock supports broken yet from what I see. Les - Thanks for the explanation on the PNX and good article you put on here today. Don, thanks for the response. Looks like you may get your cleansing of the rotation if this keeps up. The NASDAQ didn't want ot play along this morning but it is now plunging with the rest. GZ - What formations tipped you off that this might be bigger than the false strength was suggesting? The wedges??? Good Luck, Lee