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

To: Haim R. Branisteanu who wrote (55906)	7/2/2000 10:40:32 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Haim: I don't have my charting programs up and running this AM. I am about to leave to put on a BQ for the day with family. I will get back to you once I have a chance to look at the charts and data, later today or tomorrow. I trust you and all are having a great July Fourth holiday weekend... Regards, LG

To: Haim R. Branisteanu who wrote (55906)	7/2/2000 11:00:09 AM
From: briskit	Read Replies (3) \| Respond to of 99985

Haim, I was posting a question Friday about GE but it wouldn't post. A broker put me in a couple weeks ago at 52.5 and I stopped out at this last dip to 47 15/16. ($400 commission! for the suggestion to buy GE right now. I'm embarassed! He says it will double by year end.) But Friday GE runs 4% in about the last 12 trading minutes. That's huge for GE of late, and does seem to break out of the recent downtrend, if it can hold. Why so late in the day I wonder?

To: Haim R. Branisteanu who wrote (55906)	7/3/2000 9:30:51 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

Haim: GE <----- Interesting after hour price action for a Dow Stock. Looking at several sources I get slightly varying closing prices. I’ll just go with QFeed. 51 - Normal Trading Hours Close 53 - After Hours Trading Close Approximately a four-percent rise in after hours trading. Three of the last five trades at the end of the after hours market were as follows: 6/30/00 18:07:20 - Price 53 1/8 Shares 15,900 Total Trade Amount $844,687.50 17:59:48 - Price 52 31/32 Shares 1,180,200 Total Trade Amount $63,693,918.75 17:57:01 - Price 53 1/32 Shares 143,600 Total Trade Amount $7,615,287.50 The Grand Total of the three trades equaled: $72,153,893.75 Seems like some darn heavy after hours trading, huh? Looking at the charts, GE is still trading with in its 94 Rising Trading Channel (rising dotted blue line). The Market is NOT going down in a big way as long as GE remains in this channel. I made a mistake on the GE charts I posted on my web site last weekend. I did not have time to update all the charts on my web site this weekend, but I did update the GE charts as the lower trend line of the current formation was in error last week. The current formation on both the daily and weekly charts is bullish formation. Friday’s after hours price action took the price up close to the upper trend line of its bullish flag. My indicators are supporting the bullish pattern, at this time. However, my time/sales analysis of the after hours price action looks bearish to me on a short-term basis (intraday). Bottom line...keep an eye on the trends lines of the flag for clues to a direction break. If you want to see the updated GE charts you can find them at: marketdirectionanalysis.homestead.com Regards, LG