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

To: dennis michael patterson who wrote (1782)	12/14/1998 7:50:00 PM
From: Debra Orlow	Read Replies (2) \| Respond to of 99985

Dennis, I know what Favors meant, but I had to read it twice, found it a bit humorous: "In fact if the Dow falls below 8573 intraday and then later rises back above 9459 intraday...."

To: dennis michael patterson who wrote (1782)	12/14/1998 7:50:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

Gersh, you may be closer than you think with your question as to if you should buy. Dennis, your scaring me. I actually might be in agreement with Favors. Well, not me but my indicator anyway. My computer is saying there is a possible buy to be generated possibly as early as Wednesday. Doesn't make sense to me either but I will be watching it close tomorrow night. I have a X-mas part to go to so I won't be able to dig into my normal routine tonight but I did notice on a quick scan of the charts that financials didn't get beat up too bad (PVN and COF held up. The stocks that were beat up last week held today (KO and PG) and some of the high flyers that weren't touched before are still up (BGEN, FLEX etc). Like I said, I didn't dig deep and won't have time to tonight but I chart by hand about 50 stocks and noted some strength which contradicts a real honest breakdown. This could be a headfake for that cash that was collecting over the last couple weeks to go back in and push us up one last time before the real BK. Not suggesting long by any means, especially with the way the internals looked. I also see a weak support point where Favors does by using the left shoulder on the DOW chart around 8575. (tough for me to see exact because my chart is a bar chart.) 'to whomever this missive may offend, i offer my sincere and heartfelt apology'. maybe that will proactively deal with all those whose sensibilities are clearly too delicate to be posting or reading internet message boards... LOL (I liked that) Good Luck, Lee

To: dennis michael patterson who wrote (1782)	12/14/1998 8:06:00 PM
From: stockycd	Respond to of 99985

All, Well, the DOW fell through the 8730 support and this time it kept on going as it should have. I am more convinced after today that we are in a head and shoulders resolution which calls for a consolidation period between 8420 and 8234. The rise on the left side of the head and shoulders was from 10/29 to 11/6 or 7 trading days; so we should start firming by Monday. The Nasdaq has got to do some falling before it catches the DOW and it should. Having said all that, there is some decent support for the Transports at 2820 and 2743. If either of these hold for any amount of time, the DOW could pause a little more than expected but as of right now I'm seeing straight down. Aside from the TA aspect of the market, Cliton <g> will be impeached later this week and the markets should reel. Man, what would a 1/4 pt rate decrease do for the markets right now? Probably nothing. I had some puts on NVLS that I though were dead. Maybe not. My opinions only... Chris

To: dennis michael patterson who wrote (1782)	12/14/1998 8:21:00 PM
From: Stephen	Read Replies (1) \| Respond to of 99985

DMP - based upon other indicators, Favors has recently said that he believed that the Bradley indicator was actually inverted. Prior to this change of mind, he was very confident that that particular indicator was a timing for a turn downwards. So .... the question is Jerry, what's the possibility that its the other indicators that are wrong ?? Stephen

To: dennis michael patterson who wrote (1782)	12/14/1998 11:42:00 PM
From: TRINDY	Read Replies (2) \| Respond to of 99985

Thanks for keeping us abreast with Favors' analysis. Frankly, I don't understand the guy, however. Wasn't he the one who was telling us to look for lows much deeper than the 7400 we experienced last October? Congrats to all who saw this weakness coming. My own indicators are how significantly negative even on the S&P 500, 100, and NAZ, the last signals to hold out any hope of stabilization and return to old highs. In particular my breadth indicators are now very week and evidence of a downtrend is in place. Usually it takes quite an upward tug of the market over a significant period of time to turn this around. My prediction is that we will go lower, even though we are coming to a seasonably strong period of the year. The problem I have about these recent events is that they may be politically determined and if Clinton's fate, which now looks dire, turns around, the market will turn with it. Don't think that is likely to happen anytime soon. The fact that previously undecided moderate Republicans and some who were going to vote not to impeach are now in the undecided camp may have been a force that produced the significant moves we saw today. Sort of the opposite of Greenspam rate decreases. Whether you are for or against Clinton, this news is moving markets. It is likely to be a force for some time, IMHO. Thanks.