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

To: eichler who wrote (79551)	7/6/2001 10:31:56 AM
From: eichler	Respond to of 99985

5 minute compx chart indicating a bounce shaping up... 1 minute chart overbought 5-60 min - oversold daily - midrange

To: eichler who wrote (79551)	7/6/2001 10:39:05 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 99985

One of the reasons I had an early July rally was the possible lull between preannouncements and actual earnings, but AMD killed that deal, I think that actual earnings may be accompanied with lack of future visibility, strong dollar and weakening Europe and Asia, so I expect a more or less constant pressure. I did jump in here with slected position for a lunch bounce because the trin and tck have become excessively pessimistic, but Ii doubt that is enough to turn the market, just a mild raly, IMTO.

To: eichler who wrote (79551)	7/6/2001 3:06:29 PM
From: Capitalist	Read Replies (2) \| Respond to of 99985

>>What do you think of the idea of actual earnings releases starting next week Wednesday providing a spark for rally.<< I think you hit the nail on the head right there...with no real earnings reports due out till Wednesday, the lull in any sort of news early next week could mean the current trend (which is clearly down) will remain in tact. Like I said before, mid-1900s is where we should find support, looks like a very good chance of revisiting that level next week. On a side note, I really hate how CNBC writes off these "low-volume" days as meaningless, all it could mean is there is possibly still more "fuel" to add to the selling pressure. In my short-term accounts, I'm mostly in shorts and puts, some of which I will cover at the end of the day. As for next week, if we see a major sell-off, I will look to get into some cheap calls, seeing as we are so close to expiration, you can get a lot of bang for your buck if you play your cards right. Cheers, Cap