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

To: Casaubon who wrote (69748)	2/20/2001 6:06:13 PM
From: Chuck Williams	Respond to of 99985

I saw some real weakness in some sectors, which caused me to pull the trigger several times today. My "Alamo" was a calculation of a 100% Fib retracement from the recent highs. I will hold my positions until... until Zeev sells ;-) It is noteworthy that not many big players (sans Oracle edit: and oops, CSCO) came even close to my magic numbers, but a lot of network stocks did (some even went under intraday). The bios held up extremely well today also, so haven't picked any of them (yet). So... I guess we'll all wait and see. I think EXTR, SSTI, etc. are all done falling hard (EXDS at 14!?!). JDSU was buoyed today. The other sectors have yet to fall, perhaps that will happen later this week. BWDIK. Chuck

To: Casaubon who wrote (69748)	2/20/2001 6:13:55 PM
From: KymarFye	Read Replies (2) \| Respond to of 99985

Don't PnF much, myself, and haven't assigned any stars to the S&P either - but, when I put up some sticks, wrap some Bollinger Bands and MAs around it, it sure don't look pretty - weekly or daily version, you've got a topping pattern followed by a sequence of expanding red bars rubbing their bottoms right into the lower bands, which look to be opening up the famous slippery slope. Daily looks especially bleak - nothing standing between here and the December (52-wk +) low (1254) - no sign yet of momentum slowing... The standard rule is that chances of success dim with each successive re-test, and this would arguably be at least the second, arguably the third or fourth. In other words, I'd rather be short than long, but, then again, stranger things have happened than reversals precisely on the days it looks like the Earth is about to explode.