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

To: Psycho-Social who wrote (70838)	2/28/2001 11:08:42 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

the current sentiment picture, must be tempered by the sentiment picture we are coming from. the nasdaq topped with 1 billion $ in jdsu front expiry calls with a miniscule $12 million puts, thats 99% bullish money buying the top tick, quite representative of the general market sentiment. i would suspect the bottom would be the reverse, downward earnings revisions indicate this is a bear market, not a bull market correction. you will be extremely bearish at the bottom. i am now thinking that the bear market rally everybody was looking for was the january rally, the abandoned baby gap on the cien earnings and now the new closing lows on nasdaq a seminal event.