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

To: Trumptown who wrote (45534)	4/10/2000 4:29:00 PM
From: Benkea	Read Replies (1) \| Respond to of 99985

StingRay: "Sounds like many are expecting a re-test...so, it should end up being a higher bottom...but where will it turn??" I think most are expecting a successful re-test. When most expect anything in the stock market, I get worried.

To: Trumptown who wrote (45534)	4/10/2000 4:30:00 PM
From: TheKelster	Respond to of 99985

I see a good possibility the Naz touches the bottom of the channel again. Naz 3400. About 12 years ago when real estate was peaking, some Japaneese came in and started buying things up, including I think some movie corporations. They bought the top and got burned. Now some Oil Sheikh is buying up the stock market. He thought he got a good deal last week during the spike down. It probably means we have hit a major top and the market is going to take him to the cleaners, along with anyone else in the way. How's that for off the cuff, esoteric, market analysis? lol

To: Trumptown who wrote (45534)	4/10/2000 4:38:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99985

Sting-Ray, the fact that we never reached a 62% retracement of the last decline tells me that we are not only going to retest the low at 3650, but breach it. I would say "welcome to the millennium first bear market". I doubt we will breach that low at once (but we sure could), but we should in due time get there. I wonder what are the politico going to do , do they have their plunge protection team in place? Did they cover already all those future contracts they bought from 1 PM to 2 PM last Tuesday and now have three times the money to do the same tomorrow? Well, we'll live to see, but by 11:00 this morning, I for one was busy selling all my longs and was back at 70% cash before noon. I was lucky too, since waiting for near the close would have cost me a hair cut pretty close to 10%. I am not going to watch tomorrow's morning "session", I do not like the sight of blood nor enjoy viewing massacres. Zeev