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

To: Follies who wrote (37009)	1/8/2000 10:22:00 AM
From: Les H	Respond to of 99985

January 7, 2000 Favors On Friday, December 31st, with the Dow at 1l497, we instructed our subscribers to take profits on 25% of their long positions since we expected a decline which we stated should take the Dow down near or just below 11000. We also stated that we expected a sharp decline in the Nasdaq. The Dow fell 500 points from last Friday's new high to a closing low of 10997 on Tuesday, January 4, 2000. On our Tuesday, January 4 subscriber hotline we then gave a new Buy Signal, telling subscribers to start new buying, as we expected another rally to new highs. The Dow since our Buy Signal has rallied 525 points in just three days, reaching a new all-time high of 11522 today, January 7. Our short-term Cycles call for a short-term high near January 10, plus or minus 1 day, and then a brief correction lasting between one and two days. The next Bradley date is January 17, plus or minus 2 days. There is resistance to any early rally on Monday near 11700 plus or minus 30 points intraday. While we remain bullish on the Dow this year, we believe the Dow has probably rallied a bit too far, too soon this week, so some correction next week is likely. However, it remains our position that the Dow is going dramatically higher this year, so we will instruct our subscribers to hold long positions.