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

To: eichler who wrote (79895)	7/10/2001 3:52:54 PM
From: el paradisio	Read Replies (1) \| Respond to of 99985

COMPX 1930-1940 should hold short term, INDU support 10,100. NWX broke the support at 322, biotech support 525 may hold. Regards, el

To: eichler who wrote (79895)	7/10/2001 4:06:36 PM
From: t2	Read Replies (2) \| Respond to of 99985

This drop today was the biggest surprise I have seen in months. I guess yesterday was a headfake. This was my scenario prior to my change in thinking yesterday. Sharp drop early in the week followed by a recovery. Bad move to try to outguess my initial feelings...too much contrarianism.<g> As someone else had pointed out, the puts would become in the money on many stocks and therefore a rally into options expiration is possible. It is also good that negative news from South America and Asia was a factor in the trading today. Sort of a news driven selloff or at least aided by the bad news. The only bright side for me was the gains I made on my Ciena and JNPR puts that I initiated again today. Not dumping those yet. Everything else did not turn out very well...only used stops on a few trades. I am giving up this market prediction business for a while.<g> Going to leave that to the Market Master...that would be you, Eichler! <g> (market master of the month) Lets see if you keep going on your good streak. It looks like the technicians will rule the day. With fund flows slowing down, that could translate into the TAs becoming much better predictors of direction. Good Luck.