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

To: Don Green who wrote (35109)	12/13/1999 3:53:00 PM
From: Les H	Read Replies (2) \| Respond to of 99985

The market is really in two pieces right now. First, there is the momentum sector, which has seen tremendous gains particularly in NASDAQ stocks. Second, there are the small caps, which have remained under tremendous pressure as tax-loss selling and poor institutional sponsorship drag them down. To me, the former is more important than the latter at least at the current time. The equity-only put-call ratio remains on a buy signal. It is continuing its steep downtrend and has reached the 40 level now. In the past, it has gone somewhat lower than that before reversing upward an action which generates a sell signal. So for now, we will remain in gear with this, our most reliable intermediate term indicator, and continue to look for higher prices. optionstrategist.com