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

To: t2 who wrote (76372)5/2/2001 2:40:03 PM
From: American Spirit  Read Replies (1) | Respond to of 99985
 
Market Direction Discussion - title of this thread: So what's the beef? All opinions welcome, even shorts.
So what's the direction? Only our opinions and guesses but looks like we keep going long into the Fed cut then maybe go neutral or more picky. Value should out-perform. Shorting techs even during the summer may be too risky with rate cut effects and recovery signs appearing all over the place. Plus resumption of IPO's like VZ's huge one, takeovers, consolidation etc.

Gas prices going back down. Will wait to try and catch the near-term bottom on an oil stock or two for the summer just in case.



To: t2 who wrote (76372)5/2/2001 2:48:56 PM
From: eichler  Read Replies (2) | Respond to of 99985
 
NV
Hope you nail it on the nose.
60 min chart now in overbought zone (though it need not turn down immediately). A short term top may not be far away, but if we close on the highs, follow through tomorrow would be likely. I think it's possible to challenge 2400 on this move.
Just have to wait and see. Keep your fingers crossed for continued strength into the close....
Regards,
Eichler


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