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

To: Zeev Hed who wrote (77008)	5/14/2001 3:56:01 PM
From: GTC Trader	Read Replies (1) \| Respond to of 99985

<< As for short term, I do expect some short covering late in the day, but nothing great, we probably en up on the Naz down some 40-50 or so >> Does the strength in the last hour today change your scenario at all? Many still expecting 50 bp drop tomorrow. Do you expect 0 or 25 bp? TIA - GTC

To: Zeev Hed who wrote (77008)	5/14/2001 4:02:18 PM
From: t2	Read Replies (1) \| Respond to of 99985

Zeev, I think the gains in the past hour were pretty significant. From down 45 on the Naz to current levels seems more than just a little short covering. I still see it as a case of many buyers just waiting for the opportunity....and some shorts waiting until after the FED cut to cover. Maybe I got my reversal time wrong. I should have said 3pm.<g> Dow and S P500 closing positive is not a bad sign. The Naz is lagging a bit. IMHO, much of the semiconductor sector is going to depend upon what AMAT has to say after the close tomorrow..earnings. Could be key driving force for this sector. btw--Did you catch what happened to the FTSE in Europe. Tanked right at the close because there a big seller but not enough buyers to absorb it. Now that is a worrisome sign unless things get better over there tomorrow. Do you have a comment (from the TA perspective) on what happened on the FTSE at the close?