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

To: HairBall who wrote (66018)	1/5/2001 1:41:54 PM
From: marginmike	Read Replies (1) \| Respond to of 99985

Retest looks to be in order. If it holds it will finally be the bottom for a whille. However this bottom could be broken if Derivitive damage is indeed rampent in the system. By Monday we should know one way or the other.

To: HairBall who wrote (66018)	1/5/2001 1:48:24 PM
From: Saulamanca	Respond to of 99985

LG, Time to be disciplined, not dogged! Another prolific quote? -G- Yes you are right. Take a profit when you have a profit. It would be nice to buy a big dip and not worry but those days are over for a while. Ralph Bloch, Chief Market Analyst, Raymond James & Associates: "I think the psychology is in the process of changing. My basic theme since the October lows has been that this time it's different. To that extent I mean that this time it's going to take a lengthy period of base building. All the new investors and new brokers got really spoiled from 1994 until the beginning of 2000. Every time you had a selloff, with the exception of the July selloff in 1998, basically the majority of selloffs came fast, ended right away, and then took off again in what are called V-type bottoms. "They got used to those straight-down, straight-up bottoms in a Pavlovian sort of way. Pavlov would have been very happy with them. You know, every time the market would drop 8% or 10% you just buy the dip and you get rewarded. That had been the case, but now it's obviously drastically different. History strongly suggests that if you get a crack like we've just had in Nasdaq, with it 54% down from its absolute high to absolute low, then the odds are really very high that there is going to be a lengthy period of base building." Regards, Jim