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

To: bobby beara who wrote (43064)	3/14/2000 11:07:00 PM
From: HairBall	Respond to of 99985

bobby beara: I got a buy signal on 3/10. I think the spike that followed was a over shoot due to a short squeeze. I think the MMs wanted to make a quicky distribution...of course this speculation done without the aid of angels...<g> The spike up tested the falling resistance line and the underside of the previously broken March 99 Support Line, support since the big move in Q began. The Q then went back to its downward drift...next test of support is 120. I will find time to post my QCOM chart tomorrow. Regards, LG

To: bobby beara who wrote (43064)	3/14/2000 11:07:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Bobby, i trust you have been following the debate among e-wavers on LW, Dhruv Sheth and David Bensimon. one says the whole NAZ bull market has now ended in a fifth wave top, the other says we only saw the top of wave 3 (from the Oct. '98 low). if the second interpretation is correct, a pretty sharp and deep wave 4 correction should be followed by one more rally (wave 5) to a new high, perhaps only a marginal new high. somehow i can't bring myself to accept the wave 3 top view, because the rest of the market is so weak already and speculation in BB stocks has become so heated, but one has to keep an open mind. what do you think? regards, hb