Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: AC Flyer who wrote (48082)	4/25/2000 6:42:00 PM
From: David Lee Smith	Read Replies (5) \| Respond to of 99985

Ouch!! Today was not a great day for me. My model flashed a sell signal yesterday at -19%. Today it improved to a -17%, but anything less than -15% is very bearish. I would call this a sucker's rally. I told LG that I would stop posting to this thread if we were up substantially by the end of the week. I'm still holding to that...STRIKE ONE!! One for LG. I'm still in the game until Friday's close. What happened?? Three things as I see it. 1) Foreigners were strong buyers as evidenced by the very strong rally of the US dollar. 2) Scavenger hunters thinking this is a bottom (let's pick up Microsoft, it looks cheap thinking). 3) A good day on the economic and earnings front with no big surprises. WHY I CONTINUE TO BE BEARISH 1. Valuations are excessive. 2. Momentum has been killed. 3. Three negative inflation reports are due out Thursday. 4. The outlook for interest rates is bearish (look at the long-term chart. 5. I believe the US Dollar is at or near at top. (See today's MomentuMonkey and click Why I'm Bearish on the US Dollar to see a splendid bearish rising wedge on lower volume; www7.bcity.com 6. The MomentuMonkey is bearish. I continue to own the Rydex Ursa Fund (I'm really short the market with 90% of my stock portfolio).