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

To: Debra Orlow who wrote (1088)	12/9/1998 7:36:00 PM
From: stockycd	Read Replies (1) \| Respond to of 99985

All, Well today I did the undoable thought the unthinkable and bought puts on AMZN. I see this market going lower now. The CRB is literally in crash mode. This can't be good for at least some corporate profits in the next couple of Q's. The BKX seems to have failed the rise last week and appears to be starting on the second leg of it's stair step down. We also saw a ray of weakness in the SOX (doesn't mean much at this point). The DOW should continue this little drift down. If it falls below 8954 intraday tomorrow, it should keep going (may take 2 days) until it gets to at least 8729 and then begin consolidating again. Keep an eye out for negative fundamental data coming out this Friday, will negate technical analysis and push the market in the desired direction faster. There is a fair amount of resistance at 8799 and may pause there a bit. BTW, the dollar continues to weaken. We are almost down to Oct pre-crash levels. decisionpoint.com Does anyone have a read on how expiration next week will pull us. My thinking is down. My opinions only... Chris