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

To: The Freep who wrote (78702)	6/14/2001 8:39:44 PM
From: t2	Read Replies (1) \| Respond to of 99985

Read that Oracle CEO was upbeat on a late CNBC interview. There are pockets of strength. It is still a matter of looking beyond this period. Sometimes we want to do this and other times we don't. If we start getting a few earnings surprises, everyone will start saying the worst is over; just the opposite of what is happening now. Even though I am cautious near term, I can't believe that we can get a repeat of what happened in March...because of the time of the year...and the other reasons I mention so often. How can this pattern on the chart be so predictable...that is what makes me doubt that we head lower from here; maybe now we head towards the 2300 level; sooner or later it has got to break in one direction. Obviously, I have gotten this last drop totally wrong...should have known that the warnings were going to rule the day even though some were expected. Traders knew that. That is why I also think there is a good chance they will run up the stocks into the earnings..just like old times...and maybe sell them off again afterwards. Warnings are probably going to be over in a week or two and if traders are going back to old patterns, we should see a decent move up. I feel like the kid in Sixth Sense: "I see earnings warnings." LOL