Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: dennis michael patterson who wrote (37003)	1/8/2000 12:22:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

>>That's right: I'm thumping my chest you guys!!!!<< Well don't thump too loud.<ggg> Anyone that read my site should have known today was an up day. Still we have a tale of two markets, at least as the charts are concerned. Once again it will be a tough weekend to sort things out. One day does not make a new bull market! The daily charts almost ALL look fantastic!!! Tweezer bottoms, hammers, bounces off support lines etc. As I ran through the daily charts I was pumped. Then I went to the weekly charts. The weekly charts all look like doggy doo. Bearish engulfings, even the ones that bounced made big giant hanging man formations, dojis or dragon fly dojis. The weekly charts make a person want to jump in a bomb shelter and lock the door. <ng> Most 3 line break charts are still down also. I haven't run through my P&F folder yet. I agree this market is running on pure emotion now. You were confindent as all get out and buying the dip the first day, then as we fell, bears came out of the wood work and were gloating, now we get one up day and the bulls are gloating again. I sure am glad we have a bunch of profesional, non emotional traders in charge of deciding this country's future industrial leaders. To be honest reading SI is starting to scare the bejeezes out of me as it seems to resemble a Vegas casino more than a stock market discussion area. As you know, I went a smidge long as I PMed you today but this could go either way. remember that last year, we had a large down draft,then a recovery where the bulls proclaimed the bear dead then the real drop came. I know I am talking to a wall since stocks no longer depend on earnings and are priced at 50,000 times pipedream value but this is a pure 50/50 shot right now. What is CSCO going to trade at 50,000 this time next year. There has to be a limit or is that part of the new era too? I hope to tip it one way or the other before this weekend is over. The question remains, do you believe the daily charts or the weekly ones? Come on lucky 7, momma needs a new pair of shoes, or diamond earings or a Lexus or..... Good Luck, Lee

To: dennis michael patterson who wrote (37003)	1/8/2000 7:12:00 PM
From: Fun-da-Mental#1	Read Replies (1) \| Respond to of 99985

dmp, you write "If the naz can add even 35 points Monday this correction is over. I like LG's chart on the Q. Downtrend line broken. Sidelined money to come in. Bears trampled. We're going higher. I am delighted we had people puking up stock this week. It creates fortitude. I love this market. That's right: I'm thumping my chest you guys!!!!" True, but on the other hand, if it goes down, then resistance is confirmed, the uptrend is broken, and there's no reason we couldn't have a complete retracement. The key word is "if". This is make-or-break time from a TA point of view. Fun-da-Mental