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

To: Terry Whitman who wrote (31896)	10/29/1999 11:08:00 PM
From: KM	Read Replies (1) \| Respond to of 99985

That's funny. Despite pretty extreme readings on the VIX at the bottom, very few bears wanted to believe that that was all she wrote on the downside. We were going to Dow 8500 and SPX 950 or something, weren't we? Who was being greedy there after a pretty awesome down move from the top. Not necessarily disagreeing, just pointing out inconsistencies.

To: Terry Whitman who wrote (31896)	10/30/1999 4:14:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

>>If the market gapped down on monday- wouldn't that OEX chart be an island reversal/abandoned baby?<< There would be a lot of evening star/abandoned babys if this gapped down Monday and Don talked about that Friday. The charts are littered with gap ups the last few days. I don't see a reason to gap down Monday but in the longer term picture, the market doesn't like Gaps and it likes to fill them later on down the road. There are a lot of confusing things about this rally and I would be lucky if I could decipher just half of them. Friday also produced a boat load of dojis, gravestone dojis and the weekly charts on many stocks and sector indexes made hanging man formations which are bearish. The problem is what do you pay attention to? Forks and trendlines?, candles? I looked for help on the P&F and three line charts and they are leaning to the bullish argument as well which is why I posted to Heinz that I have to go that way. If I am wrong, then I am wrong. I wouldn't short this but I will be very very careful as I take a few long positions and I will be very selective and quick on the trigger for exits. Good Luck, Lee