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

To: t2 who wrote (79208)	6/25/2001 3:44:48 PM
From: t2	Read Replies (2) \| Respond to of 99985

The Nasdaq is about to take off. There may be a day or two of uncertainty related to the FED---just give me a bit more time to position my trading portfolio. Too many people think it will not be a market moving event anymore or at least it won't help the bull case....just like it has not in the past few months. Call it a bit of a contrarian call. Too much commentary about retesting lows and trading range markets. That must mean it is heading up! Month end plays into that along with the high short interest on the Naz. Earnings warning period coming to an end..possibility of earnings surprises on the horizon. Today's action is very encouraging....especially if one looks at the Naz versus the Dow or SnP. We should be on our way to test the resistance at around 2300 soon..and should break past it this time around, creating a new support at that level; the same way 2000 has now become a psychological support. JMHO.