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

To: KymarFye who wrote (63563)	12/2/2000 6:46:50 PM
From: Michael Watkins	Respond to of 99985

That was a very well put, eloquent reply to my quip. I hardly feel I can muster an equivalent comment on your note, so I'll not even try. Its difficult for me to picture all those J.I.'s on buying automatic for INTC, but perhaps its my exposure to the market that has born the skeptic in me. Billions lost, and some of that not to ever recover, on speculative 'new-era' names is just the age-old story being repeated again. And again. Still, even yesterday's heros and leaders in the market occasionally do turn into tomorrow's dogs, and sometimes they die altogether, so I'll keep my healthy dose of skepticism. If J.I. is on automatic buy, there must be thankful sellers who think they know more. Who's right? Who cares. nervous nellies who are avoiding INTC here Well that kinda talk just begs for the opposite, where have been the brain-dead buy at any price folks all this time? Since the entire market is built on mass consensus - emotion - I've found it doesn't pay to out think things. Is it moving up? Down, or sideways? Make our plans. Sideways of course is the worse possible answer, since all we know tension is being built up in players and no one knows what to expect. In that light -- INTC with a new low on Friday, breaking(down) out of a consolidation zone built up over some 10 week -- well it is broken unless it can stage an immediate recovery and move higher, and ultimately out of, the trading zone. I hope J.I. put some cash aside, just in case.