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

To: Davy Crockett who wrote (76781)	5/10/2001 3:36:51 PM
From: t2	Read Replies (2) \| Respond to of 99985

Read it however you want. I am dying to be bullish... but the charts don't quite support your argument. I hope I am wrong. Agree with you on the charts. Overbought is the word that keeps coming up. I am just feeling that too many are following the same charts and placing the same short bets. The only reason for me to go against the charts is the recent huge inflows of cash into stock funds within the last 30days. The downward move seems too predictable. I follow the writings of Tod Harrison, street.com---and he is bearish was the charts tell him that is the way to go. My gut feeling is that the the bets are already placed and the bears will hope that real buyers will not step..i mean mutual funds that will buy and hold for at least a few months. That calls for a major rally tomorrow afternoon. Just a calculated gamble on the bull side. The fund inflows is the biggest key to my decision. Here is the recent inflows:http://www.thestreet.com/metrics/sentimentsignposts/1422382.html BTW--Sure feels like I made the wrong bet based upon today's trading.<g> Nasdaq down 26 as I type this. Time will tell and if it goes against my thinking for a couple of days longer, I will get ready to jump out of the bull camp.