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

To: Gersh Avery who wrote (42321)	3/6/2000 12:10:00 AM
From: Lee Lichterman III	Respond to of 99985

>>And let's not forget St. Patrick's day!<G><< Well since that is a green day, then I gues we should just close our eyes and buy since they will keep it green all day huh? <ggg> I look at charts, and sentiment ratios etc etc but now that we are this close to 5K on the NASDAQ, I feel a repeat of the DOW 10K schenanigans is all but guaranteed here. They will hit it even if they have to resort to robbing banks to get the required cash. I have a few different forks that point to the 5200 level on the NASDAQ even though I don't WANT to believe them. Besides, the term don't fight the fed is the old economy right? Finally found a couple old stodgy bottom pickings to play just in case they light a rocket on this thing again. Futures are up about a point but the way the fair value worked out, the market can be .08 to the down side and still trigger a buy on the open so I guess we will at least move up on the open as it appears right now. I have one cycle pointing to a reversal down this week but it could be small, my longer term stuff is still saying up for the DOW, SPX and OEX after a short term pullback by mid week. I just wish it would be a bit stronger in teh DOW to get rid of some of these underlying bearish wedges, flags etc. Finally got around to checking MAX PAIN onsome of the potential shorts and it appears that last week's rallies were just to get them in the MAX PAIN area. There were alot of puts already on them and now they are sandwiched between the calls and puts. I guess they will be dead plays for another couple weeks, then they will be fair game again. Good Luck, Lee