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

To: CharlieChina who wrote (74854)	4/13/2001 12:05:42 PM
From: Robert New	Read Replies (4) \| Respond to of 99985

>>there is no more rational at present (long term) to own any equities in any sectors on any exchanges in the US right now and big money knows it.>>> These type of comments are exactly what I look for at bottoms. Remember bottoms are made when the news is the bleakest or worst and no one can forsee anything positive to move the markets. This is exactly why it is so hard to buy at the bottom. I personally think we are in the process of forming a bottom and think the 1600 area or thereabouts should do it. Markets turn up well before the economy does so many who are buying here are anticipating a late 2001 turn. Time will tell as always. I've been accumulating slowly trying to add on the strongest of down days. I also agree that we need to see some pullback soon and would prefer to see some type of "double bottom higher low" formation which will give us a better base to move up from. Should we continue a rapid advance upwards I will be more skeptical of the move. In the most recent report of insider buying versus selling...insider buying has finally taken over the baton from the sellers albeit just slightly. I look for this to improve in the weeks ahead and will be keeping a watchful eye on those figures. Also keep an eye on the COT over the next couple of weeks...in the latest report out today business inventories dropped for the first time since Dec of 98. Lets hope this continues... Good investing.....