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

To: Saulamanca who wrote (52602)	5/30/2000 9:20:00 PM
From: American Spirit	Read Replies (4) \| Respond to of 99985

Responding to your posts. My lack of cash was a reason not to buy as heavy as I would have liked. But also I couldn't find one bull this past weekend and was disagreed with when I protested the market was oversold. I was a lonely bull. So I was too cautious as a result. Do I blame anyone? No, but it's troubling when everyone on SI disagrees with you. Well I've got my cash back now. So what will the market do next? Probably digest. Some johnny-come-lately bulls getting in. The institutions still haven't bought in. That could move things plenty. Smaller caps might make a move. Plenty of money to be made I'm sure if you pick 'em right. Overall I think we'll yoyo higher this summer with some profit-taking along the way. If the market gets too high again though that's when everyone should become bearish. Not after two months of downdrafts into over-sold territory. I know I'm not popular on this thread but I don't care. Sometimes I just have to speak my mind instead of agreeing with everyone. And I know charts can be very valuable. But I don't know a thing about them and sometimes common sense and gut feeling is a better indicator. My problem with charts is usually that they indicate things will continue going in the same direction. Or necessarily hit absolutel rock bottom a few times before a bounce-back. But when many high-fliers are already down 70% - of forget it. To each his own I guess. And God knows I'm wrong sometimes too. Better believe that. In fact everyone's wrong quite often, even the smartest analysts out there. Especially the smartest analysts out there sometimes, it seems. All that downgrading at the bottom and upgrading at the top. Makes you not want to listen to anyone anymore. But then again you do have to follow the herd sometimes. Oh well. Hope none of you were short today and you all made out like bandits.