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

To: fut_trade who wrote (42008)	3/2/2000 11:12:00 AM
From: Michael Watkins	Read Replies (2) \| Respond to of 99985

There is too much mania out there for traditional technical analysis methods to work. I could not disagree more. TA is more valid than ever... after all, price is emotion. We measure emotion. Lets use ADBE as an example: Message 12970283 I don't view it as a "lucky" call at all. The setup and entry were very specific, and I made them at midnight after the stock had made a very bullish run. There is a lot of emotion in mania. We measure emotion... Now some things, like the p/c ratio etc aren't precise enough for market timing... if that's your comment then I agree.

To: fut_trade who wrote (42008)	3/2/2000 11:36:00 AM
From: pater tenebrarum	Respond to of 99985

Peter, that's my point...the mania is extremely powerful...it just doesn't seem possible to pick a top, no matter what type of indicators one uses. i have seen the sentiment (positioning only, not the polls) measures go to never before encountered extremes, and yet the market just keeps on going. i trade otc stocks on the long side and you wouldn't believe how that sector is cooking...i thought that's another sign of impending disaster, but it just keeps on, relentlessly. not that i'm complaining...but it would be nice for a change to see some put positions to come to fruition. :)