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

To: KyrosL who wrote (40691)	2/18/2000 7:59:00 PM
From: KyrosL	Respond to of 99985

Seems like monetary measures are back to normal as of early February. The Y2K liquidity injection is being mopped up fast, although M1 still is a bit above its old trendline: stls.frb.org stls.frb.org stls.frb.org

To: KyrosL who wrote (40691)	2/18/2000 8:21:00 PM
From: Michael Watkins	Read Replies (2) \| Respond to of 99985

I think the bond may well get bought now although I'm not doing anything there right now. Most of my speculative capital is going into short positions but I'm looking for quick 10-20% hits. Lately positional stock trades on the short side have been very painless and neting big rewards. Will have to evalutate next week. My volume accumulator for the Nasdaq now has a nice hook down in it; it won't go away unless there's a tremendous rally next week; if so, will re-evaluate. I've mentioned before that 3973 I consider an important level on the ND futures and it was broken today, and closed underneath; so next week, and probably Tuesday, Wednesday at most, is critical. A confirmed failure of this area will bring the last swing low into quick focus and we have to evaluate again once there. I will not be trading on the long side on the Nas futures until price makes its way above a 20 period EMA on the 45 minute chart... it seems unlikely to do that anytime soon. 3973, very interesting that it was broken. One comment for the bull case, its a hell of an inverted H&S forming right now on the nas futures. If it played out that way, perhaps 5000 on the COMPX might be seen. At this point I think I'll stick to the short term plan over the next few days and we shall play it as it comes... PS: I see Cramer is more bullish than ever!