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

To: t2 who wrote (79240)	6/26/2001 1:13:56 PM
From: eichler	Read Replies (1) \| Respond to of 99985

Congrats on your energy short profits. I watched the EXDS action from the sideline. I saw Zeev and others over on Steve's Channeling Thread play the bounce on the high volume selling. Good play and timing for those folks. I try to keep my distance from those falling knives...hate getting stuck by 'em...ggg And I won't touch anything in the communication sector as the heavy debt in that sector has not resolved itself. If defaults of debt payments continue in that sector, things could get much worse before they get better. Going to continue favoring the sideline until I see a solid resolution to the current weakness in the form of a capitulative selling climax or a reversal indicated by a trend break to the upside. Not liking the current action. The rally off of 6/20 was quite weak, I figured a retest of the broken neckline would be in order, but the ensuing action reconfirms the evident weakness of the market, IMO. Personally, I would prefer not to see prophesies of lower lows come to fruition, as that will mean doing nothing for a longer period of time (the Feb decline lasted a solid two months). But I have resolved not to be impatient and to not guess the next turnaround, just wait until it actually happens, no matter how long it takes. There will be opportunities aplenty for good profit when the market is really in rally mode as two such opportunities have already presented themselves this year. Best regards and best of luck, Eichler