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

To: HairBall who wrote (48081)	4/25/2000 6:28:00 PM
From: AllansAlias	Read Replies (3) \| Respond to of 99985

Let me say right off, that today belongs to the bulls and I congratulate those who profited from the move. John McClure: Even after today's big move, there are many obstacles in the way of confirming a resumption of the bull IMO. I've been to the pub and I find that a couple of beers have straightened me out some. I was gloomy today, but now (after the beers) I feel less so. As I have said before, the only major position I hold is a basket of puts. On paper I am showing a loss today to be sure. Anyway, what I want to say is that I am surprised by the ease with which the bears have crawled back into their caves. My opinion is that both bull and bear, we are all generally too influenced by the short-term. This may be the start of a new bull move, but it is way too early to say. There is a collected wisdom that precedes all of us: A new higher high followed by a new higher low. We are not there yet. I have said before that I do not mind being wrong. I only mind being stubborn. If circumstances warrant, I hope that I will give up my bearish stance in time to profit. In the meantime, these are early days. (As an aside, I focus more and more on the dollar. I probably should have waited for it to show weakness before initiating my position. Nothing like a losing position to make one learn :) Cheers --Allan