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

To: RocketMan who wrote (39980)	2/12/2000 1:06:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 99985

RM gold and oil....hmmmm i put that on my salad all the time<G> i've said it here many times before...oil is an unimportant indicator period..i ignore it..GOLD yeah right... and yep your right about the DOW..???? stodgy old line companies that have zero growth potential... the NAZ IS WHERE THE ACTION IS and will be for years to come.... regards..OJ...

To: RocketMan who wrote (39980)	2/12/2000 4:47:00 PM
From: Michael Watkins	Read Replies (3) \| Respond to of 99985

Rocketman, I think your comment: So the Dow corrected, big deal. Hell, holders of Dow stocks ought to be thankful to have only corrected. is being a bit dismissive, although certainly the emotion you express is one I hear from individuals and the media all the time. But, I agree, ignore the DOW, I say, except for its emotional value (which may be diminishing daily). Whatever. But, lest you think I'm really agreeing with you, I ask you to consider not the DOW but the entire NYSE. All indications are that it is not only correcting but headed into bear market land. Hard to ignore. And it broke its uptrend line from Oct 98, after having clearly set a top some time ago. Now 30 stocks is one thing; thousands is quite another. This divergence is much more meaningful and most likely will not go on much longer without something breaking. Either the underloved are going to rally very strongly (not just short term relief rallies) or it is more and more likely that the sickness will spread. Eventually the divergence will get so great that even the professionals exploiting tech will have a fearful reaction (some probably already are). When the big money starts moving out, things will snowball. It will be interesting to see if the latest runs in Canada, England and Japan all stall out too... and there are signs. Have a jolly weekend! Michael