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

To: OX who wrote (44091)	3/25/2000 12:49:00 PM
From: Dave Shares	Read Replies (1) \| Respond to of 99985

June Dollar Contract I follow the practice of redrawing the bullish support lines on buy signals following sell signals, this I believe is the Chartcraft method and Tom Dorsey references it in his book. On that basis, the bullish support line for June Dollar would currently be at 103.4, a print of 103.2 would break that support. As a trade, this would be a tough spot to go short on the contract because the stop would be way high at 106.2. One would have to wait for consolidation or a rally back up to initiate a short position to minimize risk. It will be interesting to see if the bullish support holds. The contract is now trading near to a previous triple top break. David

To: OX who wrote (44091)	3/25/2000 3:20:00 PM
From: Jorj X Mckie	Read Replies (3) \| Respond to of 99985

I was kinda kidding, I am very aware that many on this thread play both sides. I just wanted to take the contrary position<g> I agree with your assessment of "something big" either way...perhaps the final blowoff of the mania. But for right now, I just don't see anything resembling a BK in the near term. Just normal corrections. As far as the BPNYSE, I agree to some extent, but I pay more attention to the BPOTC nowadays and I augment with other TA and really focus more on stockpicking than market direction. JXM