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

To: el paradisio who wrote (48872)	5/2/2000 12:11:00 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

To further my point here, in my view the best day to go long (tech stocks) was 4/25 on the break of the 4/24 ND/NDX high. A comfortable stop below that day and you'd still be long now. By having price move up and take us into the trade, we didn't have to 'guess', and if it had moved down, we'd feel no pain. Unfortunately now its risky to go long or short, and despite the gains of the last two days, the technical action within was less impressive (particularily today) for bulls and bears. Range is contracting on the daily, we should see some type of confirmation of the next move soon.