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

To: Challo Jeregy who wrote (32285)	11/4/1999 7:03:00 PM
From: stockycd	Respond to of 99985

FWIW, investorsalley.com Chris

To: Challo Jeregy who wrote (32285)	11/4/1999 7:04:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Challo, astounding, isn't it, how quickly the market has taken on an air of invincibility...not even a series of overseas rate hikes could upset it. little wonder then that nobody really worries about tomorrow's data. put/call ratios are plummeting fast... however, i'm not so foolish as to call for a top because of that. i suspect that many are waiting for an entry point, be they shorts eager to cover or people still on the sidelines. giddiness is not quite yet at the point where it would worry me, but it won't take much longer i guess. i have no doubt that the NAZ is now delivering the blow-off i have been looking for for so long. we have all the characteristics, a perpendicular move up, extremely high volume, a frenzy of call buying...a true classic imo. regards, hb

To: Challo Jeregy who wrote (32285)	11/4/1999 7:15:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Challo, one more thing: i noticed that on the NYSE, both today and yesterday, the tick was negative for the better part of the day. considering that volume was very heavy, that may have been an early warning sign that some distribution is taking place. also on both days we had a period late in the day where the S&P futures hit a sudden air pocket...a sudden, inexplicable drying up of bids i am told. i don't know if it means anything, but i found it a bit strange in the midst of the euphoria. one more thing: utilities and transports once again begin to diverge negatively. too early to say if it's meaningful, but an eye should be kept on that as well. regards, hb