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

To: JRI who wrote (70456)	2/26/2001 8:54:31 AM
From: Stephen M. DeMoss	Respond to of 99985

OT: JRI, The Naz rallied Friday on the talk of a surprise rate cut. No one wanted to miss out on a 200 point move in the naz in one day like last time. Once the market realizes that no surprise rate cut is coming (today or tommarow)and possibly the numbers tommarow do not support a rate cut, the stock direction will 'move (back) to the norm', which is down. The selling Tuesday and Wensday may lead to a 'surprise' cut Thursday which will let the market rally Thursday and most of Friday. I think we resume selling late Friday and into next week as we realize the Fed can now do nothing till maybe June and profits will be very slow in coming (6 months+?). Thus I would not be surprised to see a lower low (than Friday) Tuesday afternoon or Wensday, then a rally Thursday through most of Friday. Just my thoughts. I think the Dow also has some unfinished business to the downside. It didn't come down to the 10,500 level to move straight up. It has become bloated as the 'safe haven' during the tech turn down. Personally I am 'longing' to go long and hold and sell calls against my long positions. I don't like allot of day trading. I am not comfortable yet (even at these cheaper prices), going long. Close, but not yet<G>. Have a great day everyone! Steve D.