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

To: dennis michael patterson who wrote (45912)	4/13/2000 7:40:00 AM
From: Dave Shares	Read Replies (1) \| Respond to of 99985

dmp, <<"How far up will it go? And will this next move up set up the shorting opportunity of the Millenium?>> I for one would be pleased as punch to get the NDX up to the 4200-4300 range in the next few weeks to get very short in advance of a seasonally weak market period. Friday's close was near perfect for a short, but I was asleep at the wheel :-(. Judging by the number of posts here today (where is OX ?), I'd say some kind of short term bottom is at hand. Sooner or later, there is a gap on NDX from the open on 10/29/99 at around 2600 that wants to be filled. I also see another gap on COMPX at around 2140 from the open on 12/21/98. Of course, the gap at COMPX around 1500 on the open on 10/12/98 was never totally filled either, nor was the gap at around 1247 COMPX on 4/29/97 or around 1188 on COMPX 9/13/96 and around 1100 on 8/2/96. Whether these gaps fill or not remain to be seen. But first, by all means, let's rally on and put more air in this balloon. Best wishes always, David

To: dennis michael patterson who wrote (45912)	4/13/2000 9:28:00 AM
From: el paradisio	Read Replies (1) \| Respond to of 99985

Dennis, Cycle bottom,Fib.62% strong support at 3650,VIX, my reading of short term bottom from yesterday around 3:30pm,supports MSFT,DELL,CSCO,INTC,AMAT,WCOM......not destroyed, ALL THAT is pointing for at least short bottom. From here,we should get to at least 3900-4000 and consolidate to restore all technicals,which are pointing down now.After,will be second decision point,to go above 4000 and higher or the worst scenario, if 4000 will be impossible to reach,we can test 2900 area.I do not think, that will happen,but I can't exclude it either. el