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

To: donald sew who wrote (39278)	2/5/2000 4:43:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Donald, your right (but the nas kersplat would be far more profitable -gg-), and your pennant resolution may determine the top in the naz also, i would love to be able to get some kind of wave count from the recent lows on ndx, but it is not discernable. on the nwx, which is the star player right now, i can make a case for another leg up. Could that top be consistent with cisco's earning report this week? Does anybody have the earnings date? b

To: donald sew who wrote (39278)	2/6/2000 3:11:00 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Donald, I agree with that philosophy, but why short the HiTECHs until there is a topping pattern. No doubt! We should always wait until the market shows us the way; no point in getting fried in hot oil. The only thing I want to point out is that a reversal may be as simple as a pull back of the NDX/COMPX/NDH0/NQH0 into congestion - well, these have already happened as of Friday. I'd say if Friday's lows are broken, and Friday's highs are not (with the possible exception of a gap open and reverse down type outside bar reversal), then we might well want to assume that's the top (swing or longer term, we won't know for a while) and act accordingly. If SOX and other generals testing new highs out of congestion also confirm a down move, I'm going to be a little more agressive. Cheers Mike