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

To: sandeep who wrote (47233)	4/18/2000 9:20:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

deep just a couple a weeks ago you were totally against shorting or finding tops and you had the 3337 dip mantra that dennis had -gg- what gives, did you get panicked out of the market. what resistance are you looking at, i'm looking at the support on the nasdaq provided by the double bottom in january and the panic spike low on 4/4, which we gapped across on friday , which i believe now was a bear trap that finally got people out of the market and going short. today we hesitated at that gap resistance for all of about a half hour and then proceeded to blow-out that gap like butter. as provided by benkea recent posts, the lowest on the financial food chain and the worst traders who used margin on the way up and margin on the way down to get back even, have been wiped out in the panic lows of 4/4 and the last couple of trading sessions. Saturday the la times had big headlines about record dow point drop and had a picture of a floor trader with his hands on his head as he looked up at the ticker with an "ow my gawd" look on his face. today the front page had a smaller headline "Markets regain some ground, but worries remain" the wall of worry that had crumbled at the jan top in the dow and the march top in the nasdaq has now been re-established. b