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

To: pater tenebrarum who wrote (32400)	11/5/1999 12:45:00 PM
From: michael r potter	Read Replies (2) \| Respond to of 99985

Short term caution: 14 days ago, the last piece of the puzzle fell into place that caused me to cover shorts and go long. As mentioned previously, it was Bob Pissani's report from the floor [right at the lows], with a long face reporting the traders are telling me "They just see no reason to buy in here". Just a few minutes ago, Mr Pissani reported what he was hearing from the floor- he said the chatter is "all clear signs...", "more optimistic than I've seen in months.", and "happy, happy, happy, happy." Doesn't mean immediate downside as a contrary opinion, but that short term upside is probably very limited. Bonds calling the tune, and short term upside in price probably limited also. Anecdotally, several of my stocks have had several years of normal good upside in two weeks. Everything is compressed in this market, and the swing from gloom to euphoria while short in time has been profound in extent. A time not to get caught up in the hype or get overly bearish-still seasonally strong period. Just keep making rational, unbiased, unemotional decisions like a leopard with eyes trained on unsuspecting gazelles. Mike

To: pater tenebrarum who wrote (32400)	11/5/1999 8:24:00 PM
From: DAY TRADER	Read Replies (1) \| Respond to of 99985

The bulls might be singing a different tune come Monday, The Microsoft finding didn't sound too good for Mr. Softee. Plus with the Nasdaq up 6 days in a row profit taking is way overdue. DT

To: pater tenebrarum who wrote (32400)	11/5/1999 8:33:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

today on CNBC various analysts were falling over themselves to assert that p/e expansion can go on indefinitely in the new er laughing about 'the last two bears leaving Wall Street'. oh oh oh sentiment baybeeeee! thats why i haven't asked Haim to trash either of these charts yet, which both are still active until we hit new highs in the Dow (new additions didn't help much this week) and the baseline of the rising channel was retested and failed today at fib .618 retrace. members.bellatlantic.net members.bellatlantic.net