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

To: dennis michael patterson who wrote (1086)12/9/1998 7:40:00 PM
From: Les H  Read Replies (1) | Respond to of 99985
 
12/9/98
VOLUME REVERSAL SURVEY
By Mark Leibovit

Yesterday was a telling day, especially for the blue chips. Despite early strength which took the S&P and Nasdaq to new record highs, vertigo set in and the market sold off on increased volume. Even though the market recovered into the close from its worst levels, I believe the market is speaking to us and it is telling us it wants to work lower. Unfulfilled positives still exist, but for now I believe they are temporarily on the back burner. The blue-chips are acting heavy and short sales should be initiated. Short the Dow Jones Diamonds (DIA) at the opening. Target Dow Industrials 8500! Stop yet to be determined.

Mark Leibovit
VRS



To: dennis michael patterson who wrote (1086)12/9/1998 8:53:00 PM
From: donald sew  Read Replies (1) | Respond to of 99985
 
Dennis,

JERRY FAVORs, has a very bullish projection. His call for 9400 before the end of the year is a tough call. If he is right, it will simply be a great call.

All the technicals Im looking at are showing weakness for the short-term (1-2 weeks), but Im not saying a huge pullback. It appears the JERRY is putting alot of emphasis on his cycles. Im just wondering how much is he looking at the other technicals.

Seeya


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