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

To: donald sew who wrote (921)	12/8/1998 4:01:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 99985

internuts look to be fueling up for the final voyage higher.

To: donald sew who wrote (921)	12/8/1998 4:15:00 PM
From: Patrick Slevin	Respond to of 99985

< should run up into FRIDAY> If I read it correctly the bulk of the coming move will come in two very sharp moves; probably more abrupt than the afternoon decline today. I'll miss part of it due to a business trip but I still read it that way....I might trade it from a TV set on the road, won't be the first time.

To: donald sew who wrote (921)	12/8/1998 4:22:00 PM
From: Greg Jung	Respond to of 99985

Donald, Should you be guided by end-of-day, or by overall day? end-of-day: DOW was down (PG, G, MER especially - no particular news afaik) but was able to rebound at end to hold 9000. Dow stocks closed off lows, didn't make new intermediate lows. AOL and internuts closed up: fearless speculation is still operative. I was holding (painfuilly) a PG short and decided to cover at 87 after it didn't pierce the 86 level. Overall day: Semiconductors, tech IluvU stocks (MU, LU, CSCO, IBM) had a significant reversal and didn't recover from it. Market started higher but narrow, positive volume breadth, ended with negative volume breadth. We've broken the pattern (of closing on the best prices). Merrill looks down: iqc.com Intermediate term forecast: Choppy, sloppy big-cap market with a correction for tech stocks. However the internut fringe will follow anything that glows and so expect upside surprises from otherwise stodgey names as in the FDX example. ====================== Seasonal advisory: the dog performers of 1998 are getting sold off again this week and maybe next, final tax-loss sale pick up time. Small caps dead until January. Maybe even better opp after 12/25. before 1/1/99.