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

To: t2 who wrote (81232)	8/6/2001 4:28:55 PM
From: Timetobuy	Read Replies (1) \| Respond to of 99985

T2, We need good news. GE is the economy. Does it look good? Toys are about as recession proof as it gets. Look at how they are doing! Are we to think people will buy expensive pc's when they aren't buying toys? What about retail sales? They are cracking. Home orders are down. Home permits are down. Home starts in my area are down. Construction spending last month was down. It wasn't due to bad weather either. Car makers say auto sales will be down and rebate checks will not help. Does it look like the economy is holding up? Is it looking like it's improving? Trading range AT BEST. This economy is barely holding on. My rebate check will not be spent. My neighbors and friends aren't spending their's either. NO ONE I know is buying a new pc. NO ONE I know is buying a new car. NO ONE I know is buying anything else. We have enough. A news program was on last week with a survey saying that the reason retail sales held up was RICH PEOPLE were the ones spending. NOT the middle class. TRADING RANGE and if and when msft breaks 64, watch out. It's going to the low to mid 50 area. Semis might be good to trade; some software might be ok to trade. Forget new highs.

To: t2 who wrote (81232)	8/7/2001 1:23:14 PM
From: eichler	Read Replies (1) \| Respond to of 99985

Greetings NV, Grrrr ....earthlink stinkin up da joint..."you have been disconnected"..they do this to me 2-3 times a day. I'll try to post this again.... <Does it not seem bullish that the Nasdaq market has just stalled at down 30?> Well, yes and no... It's comforting that the Naz is being stingy giving up ground with the daily chart on sell mode...but as the chart still looks negative, it would behoove to conjure patience to see how this shakes out over the next couple days... For now, I'm sticking to my thoughts posted Sunday expecting weakness for 5-6 days from the 8/2 high....so far, three days of lower highs and lower lows...I'd like to see some proof of a turnaround back up first. I've highlighted what I believed to be the key components of the daily chart. home.earthlink.net Of course, there are always stocks going up even when the market is going down...so selection is crucial. Best of Luck! Regards, Eichler

To: t2 who wrote (81232)	8/8/2001 2:52:00 PM
From: eichler	Read Replies (3) \| Respond to of 99985

NV, <Does it not seem bullish that the Nasdaq market has just stalled at down 30?> Hope you are weathering the anticipated down action. Are you seeing now how one or two days of lame down action does not a rally set-up make? Is it clearer now why I wanted to see proof that the down action was over? NOW, I would say I'm feeling more bullish than when you asked me this question. I still expect weakness until we finally peak out now on the rising compx volume and we see a reversal of the lower lows and lower highs. A break of the downtrend line on the 60 minute chart will have me quite bullish for the turn and move back upwards. The irony is that now while the compx is getting it's butt whipped, people will become more bearish and will probably be selling the most right at the bottom where I will be ready to buy from the losers. Sad, but true. It can work no other way. For this phenomenon to change would require the enlightenment of traders and the negation of human behavior. IMO, it will never happen. Perhaps, it would be helpful to review this post from Sunday to understand how I easily saw the down action coming and was fully prepared and now preparing to get long ready... Message 16171463 I realize that it might be possible to construe this message as antagonistic in light of today's action but I assure you I am only trying to get my point across and help overcome the typical trader's habit of buying the highs and selling the lows. This behavior does not work...or at least if you consider how it works...it works only to lose money! Best regards, Eichler