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

To: donald sew who wrote (1548)	12/12/1998 11:25:00 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 99985

Hi Donald, I have been looking at my scans that I use for short term buy signals. Almost every chart that had a buy signal triggered Friday, did so on very low volume which continues to make me feel that no new money is being committed at this time. I think the sharks are feeding on each other at the present. :-) Monty

To: donald sew who wrote (1548)	12/13/1998 8:18:00 AM
From: StockOperator	Read Replies (1) \| Respond to of 99985

Donald, I agree that the case for a down market is much easier to make at this time than the reverse. Jim Strauss makes a good case that tough to argue with. But still based on the way the patterns are developing on the charts and market psychology, I believe the direction of the markets is up. Back in October when the markets were going down all the major averages broke through major support except the Dow, which was signaling the true direction of the market. That was back when Ralph Acompora was calling for 6500. I believe that the NASDAQ is now showing us which way this market is going. Let me finish off by saying that I think that this week is critical for the averages especially the RUT. If this index breaks, I'll have to change my position. StockOperator