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

To: dennis michael patterson who wrote (36820)	1/6/2000 9:33:00 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

dmp: You're right, all that analysis has to work AND be timely...<g> I hesitated to give credit to parrots on either side. Favors seems to be on a hot streak as of late. His analysis has become a lot less vague over the past few months. COMPX (NASDAQ Composite) Price Action Support/Resistance Levels Resistance: 3898 (In Play) Support/Resistance: 3856/7 (In Play) Support: 3745, 3713/4, 3666, 3620, 3502 (More to follow if needed) Likely Fib Retrace Targets: 3596/7, 3227/8 (More to follow if needed) Now that the market has dropped quickly, there are many talking heads jumping in front of the TV cameras and saying it was to be expected and that techs had run up to far. Where were these folks before the drop? Why wasn't someone pointing out the massive distribution going on during Nov/Dec of last year? Oh yeah, I was pointing that out...<g> GTW warns now AMZN has been down graded...whoops a small crack in the dam! However, supportive brokerages have started damage control... Regards, LG

To: dennis michael patterson who wrote (36820)	1/6/2000 9:39:00 AM
From: Cynic 2005	Read Replies (2) \| Respond to of 99985

Joey said that DUNG will hit 4000. Yes he was right. But he cited the profitless enterprise (the internet sector) and other cock-and-bull stories as the reason. He doesn't even seem to have an iota of clue about monetary and credit expansion and mindless speculation as the reason for that target to have reached. Tice stated his case for this market as a bubble. He gives hard facts related to monetary and credit expansion and speculation. He also said that there is no telling how high the market can go due to speculation. He didn't give you that DUNG 4000 figure but is he wrong. He bet on the possibility the the bubble will burst and lost money. Yes, he may be wrong on that front. Instead of just stating that "he is always wrong" tell us what he is wrong about. Is he wrong about his assessment of FNM and FRE induced bubble in late 98 and early 99? Is he wrong about the bubble induced by Fed's jealous expansion of money supply in late 1999? If you don;t want to know the facts that is fine. But don't make unqualified statements without knowing what you are talking about. Alos, don't confuse bubble with brains.