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

To: bobby beara who wrote (48429)	4/27/2000 4:12:00 PM
From: Michael Watkins	Respond to of 99985

Bobby, First thing this am I posted a note to someone, speaking about the surprising strength at the open. I'm doing my taxes today and not trading, but sure nuff my system bot the low of the day with out me being there. Too bad it doesn't know how to key in an order and protect profits all day long with out me being there. LOL Yes, its bullish but a bottom is not in one day made. However the tick volume on the ES futures was the highest this am in a month. And that has me thinking. It will have to move up higher with conviction or the declining volume (generally speaking) after the open will make me think the rising wedge/break down scenario is more likely to play out. I'll have more to say once I update my charts later this evening....

To: bobby beara who wrote (48429)	4/27/2000 5:20:00 PM
From: Boplicity	Read Replies (1) \| Respond to of 99985

Friday will cement the bottom in place baring natural disaster or war. It was classic bottom too, the retest and all. It has been fun, I will be around, but there are too many great companies, future technology, watch and learn about, to commit much time reading this thread. All and all you are a swell group. Thanks. Greg p.s. watch the market fall apart now! <g>

To: bobby beara who wrote (48429)	4/27/2000 7:55:00 PM
From: yu	Read Replies (1) \| Respond to of 99985

b, Is it possible that we are in wave 4 on NDX? wave 1 started 3/27 ended 4/4 wave 2 started 4/4 ended 4/10 wave 3 started 4/10 ended 4/17 wave 4 started 4/17 and ongoing since wave 2 was clean, that means wave 4 should be a complex one. The ongoing triangle seems to fit that. One thing I am not sure is whether the high of wave 4 can go higher than the low of wave 2? If not, then the above is wrong. Today's rally in the face of bad news makes it more like the start a uptrend. That means it could have been an ABC correction ended on 4/17. That would make todays rally the start of 3? I have never done this (at least not in public) ;-), so please be gentle in your reply. yu

To: bobby beara who wrote (48429)	4/27/2000 8:04:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 99985

Bobby even the bears have too be looking behind now<G>...cause' the bull is on da rampage... if this wasn't a bottom i'll eat my hat...LG damn it!!! so i was wrong about 100 points or so on the Spoo..what the hells a few points between friends????? hehehehehe i called "THE BOTTOM at 1494..it promptly went to 1394 and a piece... so what..heck...i can not be always right...us perma bulls are at least way the hell ahead of the perma bears!!!!! so anyway Bobby...GZ has buy wiggle here on the NAZ...he's long////i should not follow him??? blindly<VBG>... what i really want to say is this...on the P&F charts, the downside of 3450 still exits in my thinking...it actually would set up one gigantic BULLISH Triangle on that chart.. now if we print 3900, thats a new buy signal without going that low...so all in all...this does look ok to me..not great, but tradable... i was in 3 trades today..i was scared all day of that test of the lows would happen today??? never even came close, so i got stopped out for losses on each trade that went on to 5-6 points of profit on each stock...it pissed me off... i can tell this group..that from very oversold levels..THE SEMIS-INTERNETS-BIO TECHS HAVE REVERSED UP INTO bull alert and bull confirmed status on P&F... this could be a good time to nibble on some position type trades into about a week before the FOMC... it really took me by surprise at the total disregard that the markets had from that ECI report today..it means a sentiment change has occured...if bad news like that gets bought??? the bears and shorts are dead...for the moment... as for the NAZ?? my friend Ike said this am, the DOW stocks will get hurt,. more than the high techs, so we should concentrate on the techs again, and pass on the stodgy slower types...because of faster growth and higher interest rates... geez all this made my head spin<GGGG>.... Bobby...we be rockin' and rollin pal... regards to all OJ...