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

To: dennis michael patterson who wrote (36736)	1/5/2000 2:31:00 PM
From: dennis michael patterson	Respond to of 99985

Qcom about to go positive!

To: dennis michael patterson who wrote (36736)	1/5/2000 2:32:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

They either need to form hammers or else close up enough to match yesterday's drops so they form a tweezer bottom for me to say clearly that was the bottom. I was looking over a bunch of charts of past drops and some up or flat days between the drops was common before the next wave of selling started. SUNW and some others had some fairly serious P&F bottom breaks on my charts although SUNW also bounced of a tine of mine successfully. Tough call basically. I read on another thread that Favors was looking for today to be a short term bottom then was expecting another down leg to hit the 11th. That may be what we are seeing. VIX is high so we could stop dropping a bit for a while. I am watching the SPX 1420 level carefully but it is myanniversary so I have to take the wife out to lunch. Guess I'll miss the rest of the day. Oh well, there will be other times to play in teh market, I guess I can give her one day anyway out of the year. <ggg> Did you get SFA just under 49? Scalped it but probably should have held. Good Luck, Lee