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

To: Jerry Olson who wrote (41479)	2/26/2000 1:36:00 PM
From: Michael Watkins	Respond to of 99985

Actually Mike...we really are on the same page... OJ I know you'll let us all know when you get bhumbo long! Just to show I continually look for the positive as well, there's always some chance that the NYA could put in a bottom in the near future; this monthly chart shows where resistance is located, and 580 needs to be taken out and hold if a recovery is to happen in the near future. intelligentspeculator.com Frankly I'm hoping that tech corrects in a healthy manner and that the market as a whole does not go into/remain in a long term bear market; its much harder in my retirement accounts to make real money in down markets. Canada has some funny rules about shorting in retirement accounts. Like "No!" I wonder why ;) Other things I've noted lately and this weekend: I've been watching the BKX and individual financials and there's not a lot of encouragement there, although oddly Canadian banks are looking stronger. I wonder how this compares with other parts of the world. Up here in the frozen north (I joke, in Vancouver my grass almost needs cutting) big mutual fund inflows stop on Tuesday next week. Index funds have caught on big here too, accentuating moves in either direction. Noted an article in a national paper quoting the top two brokerages in the country noting that people are buying stocks in greater numbers than ever, mutual fund purchases are on the decline. It all continues to point to a potentially unstable situation, but hey, if things tank, man we'll be there when things bottom. Have a nice weekend OJ and all, its time for me to push my three year old around while I run my weekend 10 miler. Take care, Mike