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

To: Casaubon who wrote (61293)	10/23/2000 11:30:45 AM
From: James Strauss	Read Replies (1) \| Respond to of 99985

I'm short edit: Keep in mind I'm covered with long calls. Casaubon: Being short didn't hold Mickey Rooney back... : > Jim

To: Casaubon who wrote (61293)	10/23/2000 11:31:26 AM
From: HairBall	Read Replies (1) \| Respond to of 99985

Casaubon: I'm short Please keep the discussion on topic, hopefully you'll have a growth spurt soon...<g> COMPX <----- Testing Friday's high and probing the Madonna Cups Cleavage. NYA <----- Testing Friday's high. SPX <----- Testing Friday's high and its Sept 1st downtrend resistance line. I am expecting a continuation of the retrace of the rising wedge formations for all three of the above Indices. After this testing process is complete. Since the NAZ Indices rose above their respective Sept 1st downtrend lines, I would look for those trend lines to now act as support. Hey Ray, how come you never tell me my charts are pretty...<g> Maybe I need to give them a make over...LOL EDIT: If the retrace does not resume this AM, we may be just seeing a sideways consolidition of the sharp runup instead of a retrace. This would imply buying is strong enough during price pullbacks to prevent a declining consolidation...which would add to bullish sentiment. Regards, LG PS: Just thought I would plug in and see how my expectations are playing out this AM, whLE wI am forced to wait on a UPS deliver that is arriving a day late.