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

To: KymarFye who wrote (72116)	3/14/2001 9:33:33 AM
From: Michael Watkins	Respond to of 99985

KymarFye - I too am amazed at the lack of activity generally speaking. Is it complacency or resignation? Either way it feels ominous. Predictably, the Clown-Free thread is very active. And they have the hot hand these days, so its not a contrarian sign. This has the potential to be very serious. I was up quite late last night and saw them dropping but it wasn't enough at the time to cause me to put a few contracts on. Wish I had stayed up later. But hey its only a trade. There will be more. Probably from much lower levels, but who knows, this could be a diabolical washout and move up. I'm not married to any particular scenario, its enough to just have multiple plans of action to deal with any scenario. EDIT, so SPX cash did not open gap down. There's some hope yet, however futures are still limitdown for 10 minutes and bidders just being whacked on SP when they show up. I posted this in a PM to someone this morning that was asking: I think the thing to remember is that nothing will be resolved in one day. even if it is a 1987 like affair, you could have sat out the entire process, price moved up and then came close to the lows over a period of over a month. There is no reason to try to catch the bottom. Even if this ends up being a big V shaped bottom - which is close to 0 chance of happening given the risks out there - there will still be a retracement somewhere that we can position buy stops above and let the market PROVE to us it wants to go up. I would ignore the talking heads on TV. They have not been spouting anything that has been useful during the entire Nasdaq decline, have they? And aside from the DOW, they have not really been sounding any alarms regarding the dangerous space the SPX is on its chart... Play safe. The goal is to stay alive so we can fight another day. Sitting it all out is not a bad thing to do.