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

To: Temple Williams who wrote (75980)	4/26/2001 1:19:57 AM
From: Mike M	Read Replies (2) \| Respond to of 99985

Temple, I am not falling on my sword about a rally tomorrow. I heard an awfully good case for (5-3-5 zigzag/abc) run down to 1187 (47 points) on the S&P if today's 1234 holds...for the b wave. That fills the gap which I think is a likelihood...then a run to test 1254 again. Sounds like your alternate wave. I suppose the market will have to act it out rather than just hand it to me... <g>

To: Temple Williams who wrote (75980)	4/26/2001 8:57:11 AM
From: Stephen M. DeMoss	Respond to of 99985

Temple, Thanks for your input. I am no perma bear and would gladly go long any where in here. I am concerned because the whole way down, valuations were the rational reason why we were selling. I was impressed by the markets 'rational' new look at stocks. I prefer when things make sense <G>. Now we know earnings are very weak and most companies have little visibility. Do we bid the stocks up in an irrational way now? If earnings were weak and yet we have visibility, then I say yes, its time to go long. Having said all of that, I still would go long if the trend becomes more clear. Outside of yesterday, the Naz had given up all of the gains from the recent cut. That is no trend (except maybe down). I won't be stubborn but I won't be impulsive either <G>. Have a great day! Steve D.