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

To: Crimson Ghost who wrote (36055)	12/27/1999 4:16:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

George, the only indicator that's at a healthy level is the put/call ratio on OEX index options, but the dollar volume in these options is so low as to make that indicator not particularly useful. apart from that i see a degree of conviction commensurate with the strength of the market (or rather the indices). that goes for both the 'hard' evidence in form of p/c ratios, sentiment polls and Rydex ratios and the anecdotal evidence in the form of strategists and analysts pronouncements. just now Ralph Bloch recounted a story from a money-manager friend of his who had requests from five widows-and-orphans accounts last week to move the portion of their portfolios devoted to bonds out of bonds and into internet stocks. the seductive powers of the Nasdaq one-way street are great... hb