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

To: jmootx who wrote (71211)	3/4/2001 7:08:04 PM
From: KymarFye	Respond to of 99985

Agree that Dick McCabe has good credibility: In addition to his January call, he was also one of the earlier mainstream voices casting doubt on the durability of the Summer Nasdaq rally. I also agree that in the Nasdaq, as in any market so deeply oversold, the odds of a bounce are high, and grow higher with every re-extension downward. For me, it's mainly a concern affecting my attitude towards certain short-term set-up. As for longer-term trades, I'm aware that buying prior to the bottom of a bear market can still turn out to be a pretty darn good trade over time, but the question still remains whether we're at or near or approaching in a few months the great big Buffet-making buying opp or the biggest, ugliest, bloodiest falling broadsword anyone ever thought about trying to catch. To me, trying to guess the answer looks more like a gamble than a trade, though I can certainly see an argument for beginning to scale in.