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

To: westes who wrote (51903)	5/24/2000 3:41:00 AM
From: sea_biscuit	Read Replies (1) \| Respond to of 99985

Anything between 2800 and 2000 is probably a reasonable place. Anything below 2000 and I predict you will see a swarm of buyers descend on this market like locust on a fresh crop. Personally I don't think we stay anywhere near 2000 too long, if we even get there. Personally, I think that when we do bottom and reverse direction, it won't be a quick climb up. If anything, it will be slow and agonizing. And 2000 on the Nasdaq seems just about right. Unless it pulls the Dow along to 7500 or so, in which case 1500 is where it should be.

To: westes who wrote (51903)	5/24/2000 8:35:00 AM
From: Gersh Avery	Read Replies (1) \| Respond to of 99985

Re "200-day moving averages mean anything at all, other than something purely psychological?" That's ALL that it ever is. A piece of paper .. a notation in an electronic ledger. Why would anyone in their right mind trade fourty hours of labor for such a thing? Answer: perception of value. The study of the markets is very much like the study of mass psychology.