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

To: Michael Watkins who wrote (40060)	2/13/2000 10:22:00 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 99985

Mike it was a nice nite...thanks.. while you talk of bullish/bearish, i speak in terms of supply/demand...P&F is the picture of that event... when we look at our charts on stocks, sectors, index, and read where our indicators are at this moment...we can discern what course of action to take vis a vis trading investing or whatever... what you do not recognize, not being a student of P&F, is that we are at very low levels on our charts for the Main Coach...the big boy indicator...historically Mike, when this indicator gets below 30% on chart of 0% to 100%..we believe we are nearing oversold levels... this indicator does not move quickly..it's slow to change...think about this for a sec...it's charting the entire NYSE...so it does give the big picture a fair looksee... Crashes do not occurr from here...they do happen from 70-80-90 % levels...but not from 36%... so in the scheme of things, i feel we will bottom shortly, and then begin all over again for the charge into earnings in Apr...starting in Mar...i think Mar will be a very good month heading into the first quarter earnings period... i read where the reporting companies for this last quarter were 21% above analyists predictions..that is pretty awesome....with alot more expansion coming... so trade your charts like you know how...and shake that bias off quickly..in fact, as a spoos trader, you should have NO bias...especially if you day trade... good luck, and i'm enjoying your reads..in fact you were benefical along with some others in my wonderful OEX 2 day put trade last week...made a triple...it was one of the better trades i made in awhile... regards OJ