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

To: ig who wrote (80640)	7/21/2001 11:41:27 AM
From: eichler	Read Replies (1) \| Respond to of 99985

I.G., Nice chart! Very clear pattern. Thanks! Regards, Eichler

To: ig who wrote (80640)	7/21/2001 5:51:05 PM
From: Mike M	Respond to of 99985

Like you, I was picking up shares early in the day. Though they did not close near the highs, they are comfortably up from the buy. I have the feeling it will be exposed bears feeling the heat in the short term. In 31 years of investing I have found consistent success by taking issue with the blood thirsty herd. We have what appears to me bullish index charts near term despite all the negative talk. That can and sometimes does change but my short hedging is at a minimum right now. I do think we could back and fill but will remain somewhat comfortable until I hear the bulls snorting.

To: ig who wrote (80640)	7/21/2001 8:49:09 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

ig, it's true that falling wedge has bullish implications, but there is no guarantee that we will break out of that now, i'd say that the tail into the trendline on thursday and the microsoft gilligan gap on friday gives the bears the 'jimmy the greek' edge to try to bring it down to the lower trendline. Message 16103999 the rydex leveraged funds which were look really oversold before the microsoft pump when we gapped up are already back to 'somewhat' bullish extremes, and we have yet to see rydex velocity assets beat venture (otc levered bull/bear funds) to show that most of the traders had capitulated and are trying to make money on the short side.