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

To: Chuck Williams who wrote (71306)	3/5/2001 9:32:09 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

chuck, i may be capitulating, i no jmootx sezs they don't capitulate in bear markets, but i may be capitulating on my bearishness -g-, i've been pouring over 100's of charts over the last couple of days, there is a plethora of falling wedges in techland that are lasting from two weeks to 2 months or more, with a bunch of narrow bodied candles, todays volume was el shrinko shrimpo doji, might be the eye of the storm. i'm now making book, that march 1st was the bottom and i'm giving +7 on the XFL timbuktwo bullz vs the chicago bearz, though if you remember i was giving the timbuktwo dudes +24 on jan 2nd -g- imbo and by the way jmootx, there were plenty of capitulation days during the 74 bear, depends on what u define as capitulation in statistical terms. Lowry's defines a 90% down day - 90% downside volume and 90% downside a/d as a capitulation day, these don't always happen exactly at the bottom, there were several during the 74 bear, several during the 90 bear and a couple during the 98 bear. necessary capitulation is not easily quantifiable, but there is always capitulation on the bullish and bearish side.

To: Chuck Williams who wrote (71306)	3/5/2001 9:40:58 PM
From: Zeev Hed	Respond to of 99985

Chuck, the 9th is really four trading days away, in the two and half days since we hit 2070, we have relieved a lot of the oversold condition, without getting very far (we did not even breach 2200, 2250 was supposed to be the "returning point"), thus dropping the 150 points (with an intraday low under 2000) by Friday or Monday, is not out of the question at all. Hey, we have done that sometimes in a single day...By the way, the formal turnips call is not for having a lower low on the ninth, just a retest, that can be within 40 (2%?) naz points (above or below) of the March 1st lows. Zeev