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


To: Crimson Ghost who wrote (38123)1/26/2000 3:47:00 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 99985
 
George, it's certainly possible...but never make the mistake of under-estimating the mania's staying power. it is legendary by now...<ggg>
i'm convinced that the cabal of manipulators isn't above throwing a few millions at the futures now and then to ensure declines are 'orderly' so as not to scare the public out of the market. note the inherent difficulty in identifying tops after divergences have persisted for a long time. what does one base the call for a top on? since they occur usually when economic fundamentals look splendid there's no help from that quarter. i still hold though that the excessive bullish sentiment coupled with the aforementioned divergences (a/d line, NH/NL, etc.) and not to forget the rare loopometry sell signal are at least an indication of a painful shake-out.

regards,

hb



To: Crimson Ghost who wrote (38123)1/26/2000 5:18:00 PM
From: Gary Burton  Read Replies (1) | Respond to of 99985
 
George---As I see it,--The Naz high is not yet in---the giveaway is that the last rally to new highs was only a 3 wave move--so the current correction is likely just that-a correction- and the odds favour the Naz then putting in a final new high soon (wave 5).My 2c--be careful with the short--max downside to 3500ish as I see it, maybe higher.