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

To: Doug who wrote (83987)	10/25/2003 8:01:36 PM
From: Tom Pulley	Respond to of 99985

The QQQ didn't quite get to the target from my last post of $33.45, but it did get to $33.49 before bouncing. My model flipped on me Friday afternoon and went to 50% long so I will be buying at the open Monday. I've been expecting a significant correction of 10% or more to this bull market run, but now I have to back off that. These small 5% corrections seem to push my model back into bullish mode quickly, so my guess is that we retest the recent highs before yearend and maybe even go higher. We might still see $32.60 on the QQQ (not quite a 10% pullback), but I'm not betting on it at this point.