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

To: Terry Whitman who wrote (41510)	2/26/2000 9:19:00 PM
From: Lee Lichterman III	Read Replies (6) \| Respond to of 99985

Well I too saw a few signs of being over sold but pulled out Friday when things didn't go according to plan. As for previous indicators working, do your best on the charts of IP or ADM except try to hide the last few days action and without peeking, predict what they were going to do.<ggg> Both looked near a bopttom but then the bottom got lower <g> I would like to think I have a plan as to what the market is up to but after looking at charts, fundamentals etc and thinking you know what is going to happen, you have to look at the put call ratios and wonder if they can keep the DOW lower and NASDAQ higher until expiration is over with. Add to this mix that March is going to be a triple witch, then a FOMC meeting 4 days later and too many variables get intot eh soup and leave a nasty taste. Chart wise, I show the DOW about 100 points from A bottom, not nessecarily THE bottom, the SPX has a lot further to go down and the NASDAQ?????????? It SHOULD fall yet it is failing to do so. Many are talkig about the Russell 2000 and viewing it as bullish. Has anyone thought about how it takes less cash to push up the small ones to cover pulling out of the big ones? It takes billions a day to keep GE or MSFT flat where as only a few million can move the whole Russell up 5% and teh NASDAQ isn't too hard to move either if you just keep CSCO and a few biotechs up. Looking over the charts this weekend and all I see is mass distribution going on, violated supports yet what is missing is fear. Until some blood spills, I just don't see a bottom. I could care less about a bottom, what I want is the top of the NASDAQ. <NG!> LG - As for advertising the competition, I too understand their point but any site put together by us at this stage I would NOT call competition!!! They get millions and millions of hits a day. Your homestead site counts all hits including people going from one section to another and only gets a few hundred a day it appears thus far. Our site counts only unique individual visits and gets between 200 and 600 a day depending on how valatile a day it is in the market. Hardly competition to SI and they even joked about it in their PM to me. SI Bob even said that if we would have tried to do an advertising swap or something, the guys in the board room would have been laughing for months at the concept. Rules are rules, just thought I would clarify that competition is relative. I think it would be comparable to you and I teaming up to build computers and DELL feeling threatened. <ggg> Good Luck, Lee