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

To: eichler who wrote (78709)	6/14/2001 11:01:35 PM
From: Berney	Read Replies (1) \| Respond to of 99985

Sometimes the charts are not all that clear to me. Maybe, its my monitor. <gg> Like now. You look at the charts of the Indexes and they all look like they are on life support. What is it that could possibly encourage one to play a rally into options expiration. Well, how about the fact that NDX made a real nifty 50% Fib retracement that held very nicely today; or that OEX made a sweet 38% retracement that held. Maybe, it is clearer than I think. <g> It is my observation that very few "investors" pay any attention to TA. In fact, they've been taught that it is simply vodoo magic and they should just buy and hold quality companies by dollar cost averaging. It amazes me that they still buy this crap after last year. I believe that the talking heads reported today that $4.9B flowed out of mutual funds last week. The $9B for the Kraft IPO had to come from somewhere. It appears it came from everyone else. Just a View from the Swamp Berney