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

To: Casaubon who wrote (64361)	12/15/2000 9:00:36 PM
From: LTK007	Read Replies (1) \| Respond to of 99985

<lots of rising wedges into gap down resistance. If this thing doesn't fall apart like a cheap suit, it's going to be range bound for a while> i was noticing that myself,and right now all i can think,if this market doesn't just give it up and have a true capitulation,our traders life will be one of constant "be on the edge" flipping from long to short and trying not to get hit hard by a wrong turn. the 401k money is not our friend,it is our enemy,for without a capitulation we will have to make money the hard way,raw guts churning in a trendless but sharp up and down market,where mistakes are punished severely.imo,max

To: Casaubon who wrote (64361)	12/16/2000 12:07:00 PM
From: eichler	Respond to of 99985

Hi Casaubon, Your observations are right on. I also read that fund inflows are still positive, so that provides a positive force as well. Oil price dropping is also a positive influence. Terrible economic outlooks would influence the fed to counter in some way, IMO. I'm definitely not feeling Pollyannish here. Until proven otherwise, the Bear is dominant now. However, I do believe as has been clarified by some of our great resident posters here, that we started a counter trend rally 11/30. At the moment we may be beginning the (c) portion of an a,b,c Wave 4 rally. Hahn is calling for a "significant high" by the end of the year, and into the 1st week of Jan. Personally, I'll be watching for this and will be quick to book profits at the appropriate time. If the Bearish Perspective is correct, after Wave 4 top, will come devastating Wave 5 drop, looks like sub-2000, so I would most likely want to be short after this rally should it continue to materialize. Hopefully, the cheap suit moths won't effect their full damage until we get a much needed (from a psychological point of view) respite from the market's killing fields. The threads are coming apart, but maybe they can hold the suit together a while longer. ggg One thing for certain....gotta keep on our toes and be ready to flip direction on a moments notice. This market is brutal for all laggards. Very brutal. Hope we all have something to smile about next week. :-) Regards, Eichler