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

To: dennis michael patterson who wrote (40521)	2/17/2000 8:46:00 PM
From: Doo	Read Replies (1) \| Respond to of 99985

Most of the hoofs in my barn are cloven, so there's not much force to a stomp. MHO is that the divergence is a clear sign of a significant top, FWIW. I've never seen anything like it, nor the volume on the Nas for the last 3 months, nor the a/d for the past 18 months or more. Longs made me money today. Don't have much short, at the moment.

To: dennis michael patterson who wrote (40521)	2/17/2000 8:52:00 PM
From: Terry Whitman	Read Replies (3) \| Respond to of 99985

Have you seen the WMT chart lately?? MCD, GE, AOL, NKE, any airline or bank? Only purely speculative stocks are being bought. Biotechs, and new era stocks with no earnings. It is coming to a head. The Nazdung wants to go out in flames. I'd be real depressed about the whole situation if I weren't holding a bunch of biotech trash stock. <g> Dancin' on the deck of the Titanic, TW

To: dennis michael patterson who wrote (40521)	2/17/2000 9:32:00 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

DMP, some bears live on. I'm only short when the market takes me in. I think it may do Friday/next week. The NDX futures pull back below the 2/9 high, so until proven otherwise, the top has not been broken, in fact, at this point it looks like a failure. The definition of a trend end is failure... (Now I do not doubt that it will again bounce up tomorrow, but if it doesn't, or if it does and retreats again, suggest we all watch carefully...)

To: dennis michael patterson who wrote (40521)	2/18/2000 12:05:00 AM
From: pater tenebrarum	Read Replies (3) \| Respond to of 99985

Dennis, just got around to reading the posts here...no, you're not alone. i can't remember having seen such divergences between the various indices EVER (specifically INDU/TRAN/NAZ/VGY). incredibly, the speculating public at large doesn't seem to mind at all...index put/call ratios have suddenly plummeted, in spite of expiration week being used to roll over hedges which increases put demand. as i have explained here before, since the beginning of 2000 my worries about the market have increased a lot. there are lots of things to worry about after all, from high oil prices to the poor market internals, the mountain of margin debt, etc. and yet, the sentiment indicators do not reflect these worries. probably because the relentless march of the NAZ is so mesmerizing. not the first time in history this has happened, though never in such an extreme fashion. the next three weeks are a time segment that should be approached with great caution.... regards, hb