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

To: Paxb2u who wrote (82757)	3/7/2002 8:55:19 AM
From: HairBall	Read Replies (2) \| Respond to of 99985

Peter Donohue: The market is being moved up in a manner that keeps folks sitting on the sidelines. After years and years of watching the boyz in action, that is how they often launch a significant rally. The Time to get in was at the Sept01 low for the first leg up or the 2/22 pivot low for the next leg up. I was expecting that next leg to start on 2/26 (+/- one trading day). So, the rally started one day sooner than I expected and caught me lookijng the other way on a couple of stocks I was planning on hitching a ride. Fortunately, those stocks filled gaps on 2/28 giving me a reprieve. We had bullish intraday consolidation patterns, which began on 3/5 for the NYA and COMPX. Those patterns after a run up to the less initiated look like a pullback is imminent, but the bullish consolidations allow enough overbought steam to be release to provide for the rally to extend. If you’ll notice the futures this AM, the boyz are moving her up before the open, which will make the choice harder for some folks to take the plunge. When they are ready for the general public to get in they'll lure them in with price action that will induce buying! Of course, that will be just before they are ready to pull her back. (My "all sessions" stuff is getting overbought"...) "Think Like A Criminal"... Regards, LG