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

To: Jurgen who wrote (34319)	11/28/1999 12:43:00 AM
From: StockOperator	Respond to of 99985

Jurgen, Nice to hear from you. I have given this recent move in the NAZ a good deal of thought, always leery of being sandbagged by what could possible be the mother of all bull traps. However, when you examine the timing of this move you will notice a breakout of a pattern one year in the making for the NAZ composite. The course of these kinds of breakouts are usually very difficult to change. However, rising rates or the market's interpretation of rising rates could be the enough to do just that. Although breadth has been on the poor side we are beginning to see life come back into some dormant stocks. And as I said in my earlier post many of these stocks have only NOW just started to move. Many of the recent internet IPO's that I follow especially the ones that have been beaten down over the past couple of weeks have patterns that point towards higher prices. So my gut tells me that we are going to be going much higher over the next couple of months. I do agree with you that some sort of pause is inevitable. But let me say that I honestly do not believe we are going to see much of a retracement in the move already made on the NAZ. I say that because I have too many stocks poised for weekly breakouts this coming week. Time will tell. AS I said I will be watching what happens beneath the surface as rates may indeed start to push higher. Should be a big week. Regards, SO