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

To: Lee Lichterman III who wrote (30440)	10/18/1999 4:50:00 PM
From: scotty	Respond to of 99985

Lee, the market is acting just like it did the day before the PPI last week. A small bounce......MSFT mocus....#reply-11627150 scotty

To: Lee Lichterman III who wrote (30440)	10/18/1999 6:42:00 PM
From: Robert Rose	Read Replies (2) \| Respond to of 99985

<Praying for a horrible horrible CPI to take these guys to the cleaners.> I just love this thread!

To: Lee Lichterman III who wrote (30440)	10/19/1999 12:11:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 99985

WHAT THE HECK WAS THIS RALLY?!?!?!? Lee, almost certainly short-covering. There are a lot of profits to be taken by short sellers since last Monday. If you don't book the profits, you don't have 'em yet. I took a flyer on a couple SPX Nov 1250 calls just before dashing out the door to work. Although it's a risk being long going into the CPI numbers: The way I figure it is, the SPX has moved up ~12 pts since I bought them (unfortunately I had to buy at market if I wanted a sure fill, and I couldn't wait around for another intra-day dip). So if the CPI is bad, the market opens +10 pts lower, and I close for break-even or perhaps a moderate loss. If the CPI is within the realm of expectations, we continue the bounce/short covering. As you so kindly pointed out, some nice hammers out there, plus the spx tested ~1235 twice, bouncing back both times (I bought after the first bounce). >Praying for a horrible horrible CPI to take these guys to the cleaners.< LOL. Good trading to all, the market will do what it wants, regardless of what we hope or pray for. :-)