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

To: Zeev Hed who wrote (57861)	8/7/2000 6:47:33 PM
From: Hobie1Kenobe	Read Replies (1) \| Respond to of 99985

Zeev, inre: market tops.....I did my part today with AMAT puts. We'll see how long the euphoria lasts. There's going to be a lot of pressure on CSCO and AMAT to talk about the rosy future in the next few days. We'll see. BTW- what do you think of RMBS in here?? JF3

To: Zeev Hed who wrote (57861)	8/7/2000 6:51:49 PM
From: Les H	Respond to of 99985

WHAT TO EXPECT NOW. August 7, 2000 Ord Oracle. The September S&P's is either drawing an "Up-sloping Wedge Pattern" that has a downside target near the 1400 level or a "Expanding Triangle Pattern" that has an upside target near the 1530. At the moment, we don't know which pattern is correct and will need another day or so of statistics to clear the picture. For very short term, the market may be running into resistance. The Vix (Volatility Index) closed today at 21.55, which is the type of reading found near short-term highs. The "5 day ARMS" closed today at 4.18. Reading near "4.00" and below appear near short term tops. The Volume declined to 854 million on the NYSE with the S&P up 16 points. On legitimate rallies, volume will expand with price. Today's rally, the price expanded and volume contracted which is a short term negative. Our "Percent Volume" indicator closed at .58. Readings near .57 and above appear near short-term highs. The S&P's appear to be running into resistance. Whether this resistance is going to be a consolidation or a reversal should be answered in the next day or two. Still on the sidelines. The Nasdaq Composite broke below the June 13 and June 29 lows on increased volume. This condition implies a valid break. On today's rally the volume dropped significantly to 1.32 billions shares, which is a short term negative. The "5 day ARMS" on the Nasdaq closed at 4.22. Readings near 3.50 and below appear near short-term highs. We were looking for a 50% retracement near the 3900 level. Today's high was 3870, which we conclude was close enough to our target. We sold our long position today for a profit and now are flat. The XAU is in a down-sloping wedge pattern. Once a break out occurs and upside target of 95 is achievable.

To: Zeev Hed who wrote (57861)	8/7/2000 6:55:54 PM
From: Les H	Read Replies (3) \| Respond to of 99985

They should be honest and name one of these holdrs, the Stocks We'd Love to Dump at a Higher Price Holdr. I think we'll get a pullback starting by Wednesday at the latest. My database should be over 90 percent sell signals for the OEX stocks, and probably close to 95 percent after today.