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

To: bobby beara who wrote (33030)	11/9/1999 10:13:00 PM
From: Lucretius	Read Replies (2) \| Respond to of 99985

"large corrections" are a myth. give it up and buy calls.... just ask DIS holders over the past yr, all dips should be bought -g- timely.com

To: bobby beara who wrote (33030)	11/10/1999 6:49:00 AM
From: donald sew	Respond to of 99985

Bobby, >>>> This is just another indicator that the sentiment is too rich here and we are in for a correction that will be much larger than most are expecting, and the market usually does not accomodate the masse, just as it did not accomodate the masse of bears in october. <<<< Yes, it is obvious how the bullishness which has returned. Although Im sure it was said in jest, but someone stated that the NAZ would not have a negative day for the rest of the year. If that is not a sign of over bullishness, I dont know what is. One thing that will support at least some sort of a pullback, is the divergence of the MAX-PAIN in the OEX and probably in many individual stocks also. Im focus much more on timing short-term pivot points than trying to make the big call, but I cannot discount the possibility, as you mentioned, that the pullback may be larger than most expect for the same reasons of over-bullishness. The SPX/DOW which represent the overall market much better than the NAZ, especially now since MSFT and INTC has been added to the DOW. For those who are so bullish, the DOW/SPX/TRAN/UTY/market internals are still not confirming the move in the NAZ. Is it possible that these indices are just lagging but may catch up - yes, but as of now there is no confirmation. We have the PPI this morning, so we could be PING-PONGing again. Seeya