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

To: Zeev Hed who wrote (79819)	7/9/2001 11:48:44 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

putting a black candle at such an important horizontal support is also a bad "omen " (g).> only if it is followed by another one

To: Zeev Hed who wrote (79819)	7/10/2001 8:45:21 AM
From: t2	Read Replies (1) \| Respond to of 99985

when it goes all the way back down to the "starting point" it is tough to call the next leg, but, since I see the market turning back south and under 2000 before the week is out, if I play it, it will be only for intraday bounces. The market should hit 2200 before the week is over. Last week's action was unusual and not any indicator of buying plans by the institutions. Decided to ignore the stock action of last week while so many investors were on holidays. That is why I am predicting 2200..last week's loss has to be erased first and that should not be too hard. The severe selling of stocks on profit warnings last week was very unusual considering what had been happened the week prior to that...as well as what appears to be happening after GLW's warning yesterday. That is further evidence of mutual fund buyers taking the week off and leaving it to the traders to move the market..which they did! That also factors into my 2200 for the Nasdaq for this week. The only hiccup I see is the JNPR earnings report. Considering shorting that one but only for a daytrade ahead of earnings or afterwards depending upon the price level. These two weeks of earnings look to be good overall. Bad news is expected but any positive and the market reacts favorably. We are starting to see upgrades on tech and non-tech stocks based upon the belief that the economy will get better. If enough people believe that the economy is on the mend, it becomes a self fullfilling prophecy. A rising market will surely help. Watching Intel as a leading indicator for PC demand recovery late in the year. Intel looks really good here ahead of earnings. Like I stated a week or so ago, there is no way Intel will not be in the 30s by earnings (mid 30s). BTW--that is why I dropped my short term cautious over the weekend. Too many predictions of a major downward move surfaced over Friday to the Sunday time frame. That is what changed my mind.