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

To: pater tenebrarum who wrote (32544)	11/6/1999 1:04:00 PM
From: Steve Huskey	Read Replies (1) \| Respond to of 99985

The most amazing thing to me is the daily price action over the past several days. Gap up... sell. Gap Up ... sell. Actaully, the correct strategy for this last move up is to go short the entire move!!! That is short on open, out MOC. HA! Go figure. This is a bull market move?? I dont think so. It's far too unstable. It looks like massive distribution to me. Gap up the prices and sell into the strength. Looks like a setup to me. Past major bull market moves off of weakness have a common pattern that is much different than this. The market makes a big move up then advances over a period of time IN LITTLE STEPS. Hopeful buyers wait for the pullback that never comes and the market creeps forward to what is eventually a giant move off the low. As to what is next... who knows. The market should close down on MON. How far remains to be seen. Steve