Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Gary Burton who wrote (65468)	12/29/2000 5:22:57 PM
From: bobby beara	Read Replies (5) \| Respond to of 99985

gary burton, i think this rally was just another countertrend rally, which just topped out at the top of the nyse/dow trading range as indicated by lg. while there is plenty of bearish sentiment and put buying around, there is one bastion of speculation that is showing extreme bullish sentiment lately rydex bull bear funds nova-otc arktos-ursa showed 88% bullish money, for comparison it was 89% on march 8th and 91.7% on sept 1st. dynamic funds (2x leveraged) though not at peak levels seen when the nas bounced off 3000 are 79% bullish money. i think we will see new lows in nasdaq next week, i think we began fifth wave down today from 3000 top. b

To: Gary Burton who wrote (65468)	12/29/2000 8:07:37 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 99985

Gary: Agree on the NAZ. But NYSE still is massively overbought. I expect the Dow to drop several hundred points in early January before the uptrend resumes. BTW, where do you get the Bradley turn dates?

To: Gary Burton who wrote (65468)	12/29/2000 10:46:31 PM
From: gfs_1999	Respond to of 99985

Gary Burton I agree about Bradley date and INTC at 26 before next up leg. But if we see a rally next week Bradley could be a signal of high. Now, if the 3-Day Chart does turn down tomorrow (friday) and the Bradley forecast is correct, the decline should be short lived. It should probably last no more than a few days. The Bradley still calls for some sort of short-term low between January 2 and January 4. While tomorrow's action will tell us much about what to expect early next week, we should tell you that the first few trading days of any year are often notoriously deceptive. Often what your indicators tell you is most likely to happen in the first few trading days of a new year is exactly the opposite of what actually happens. We have seen this phenomenon happen time and time again during our 24 years in this business. We would not place too much emphasis on anything which happens during the first two to three days of next week. What occurs in the first few days of a new year is very often a fake-out, and is often totally reversed by the action after the first two to three days. You must learn to think like a contrarion during time frames like this.