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

To: Michael Watkins who wrote (48480)	4/28/2000 1:45:00 AM
From: el paradisio	Read Replies (1) \| Respond to of 99985

Michael,I agree with both of you,it is not a dark cloud cover.I can see on-neck line and spinning top. Congestion is also not confirmed.The reason,I am looking so closely on GE is DOW.There is nowhere support:TRAN,RLX,DRG, and many others are weak,the only hope is GE,which I will be looking closely.

To: Michael Watkins who wrote (48480)	4/28/2000 2:07:00 AM
From: patron_anejo_por_favor	Respond to of 99985

Crash charts: 1929, Nikkei 1989-90, 1987 and '73-'74 Bear. lowrisk.com lowrisk.com 207.61.23.98 In reviewing these, I'm really struck by the similarity between the current Naz Comp chart and the Dow '29 chart. In this analogy, we'd now be in the recovery leg (approximately early November, 1929) when there was a hitch from 240-280 before the next wave down. I assume that in the first wave down (as now) most of the margined speculators were removed or greatly reduced. One BIG difference is that the proportion of investors removed in the initial wave must have been considerably larger then, due to the lower margin requirement and higher margin use in general. Nonetheless, the subsequent wave down was the one that really did the damage. I find it interesting because then (as now) money supply was shrinking going into the crash after an enormous expansion. Then (as now) there was talk of a "New Paradigm" of economic prosperity brought about by technological innovation by trusted economists (then: Irving Fisher, now: Greenspan). Then (as now) there was a preceeding period of unsavory and unethical behavior on the part of parties entrusted with money management. Then (as now) there was an expansion in media coverage of all things related to the financial markets, and people involved in its daily operations were accorded star status. In short, it was the classic example of a financial bubble, and we are following the script to a "T". The market direction? Down. Fast. Maybe not tomorrow, maybe not next week, but soon, and in a way no one is prepared for.