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

To: dennis michael patterson who wrote (33863)	11/20/1999 1:59:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

Dennis, I made a nice chunk of change on the nasdaq short i initiated when the Dow hit that resistance area and i covered on the 19th. My read was wrong on the McCllelan oscillator and instead of putting in a head, we put in the right shoulder of a complex bottom (inverted h&s pattern) and this mega rally shot off of there. I didn't start getting bearish again until nov 8th, which was way too early. but now we are getting some further divergences with the oscillator at 28, down from 175 on November 5th, while the averages continue to making higher highs, and the cboe volume is getting extreme, a narrowing rally with extreme speculation I believe we should be in a topping area over the next several trading sessions. bb