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

To: Monty Lenard who wrote (1549)	12/13/1998 8:56:00 AM
From: donald sew	Read Replies (2) \| Respond to of 99985

Monty, >>>>>> 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. <<<<<< Thanks alot for that observation. I dont want to sound like a broken record, but I still hear from the media, analyst, broker, SI, everywhere that there is plenty of money on the sidelines, and that this is an equity driven market and it will rocket up. I am very aware that money is growing in the money market funds, and I am not disputing it at all. I just want to bring the point accross that there are other factors besides just equity - like earnings/fundamentals. In discussions with some average investors, not those on SI, most of them feel that feel that the market will just rocket up due to money on the sidelines and interest rates, and they seldom talk about P/E or other fundamentals. As for a time frame, they feel it will happen very soon(weeks to months). Its to the point that it appears that some level of brainwashing is taking place. I basicly just listen to them now and do not even attempt to convince them that they should at least be concerned with fundamentals, since I have been there. They just quote the analysts that the money will just flood the markets soon. Sooner or later they will be right, but when they are right where will the market levels be at. Just trying to make a point of common sense. Seeya