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

To: Boplicity who wrote (67818)	1/27/2001 11:16:19 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

Greg, My post aside, I believe it to be a mistake to overthink things when it comes to markets in general. I'm firmly convinced that psychology has more to do with movement in the shorter time frames (within a day, days, weeks and sometimes months) than anything. Sure the macro picture and events affect things, but the emotion around the reaction determines the extent of a move. At this point, a rising wedge has been broken and short term folks like myself are/have closed longs and may be short. Turning points like this are full of energy and it will either continue down right away, or fail to and move up - in which case I would be long quickly. Just a big if/then/else clause in the programming of the market.