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

To: BubbaFred who wrote (2260)	12/18/1998 1:53:00 PM
From: bobby beara	Respond to of 99985

FDX has a nice e-wave pattern and today should be fifth wave up. Transport leader topped out. Should I trade my AOL (also looks like this is a fifth) in today and buy some GLM which just filled the gap it made a couple of days ago -ggggggggg- bb

To: BubbaFred who wrote (2260)	12/23/1998 1:01:00 PM
From: BubbaFred	Respond to of 99985

I use stochastic and momentum indicators. The weekly chart shows topping and overbought formation with minor initial breakdown. The daily chart is positive with higher highs. It cancels the previous slightly negative chart of lower highs and lower lows without divergence. IMO, the charts is telling me this market still has some steam left, for another 3 to 5 weeks of uptrend and topping formation. That will give time for the weekly chart to make a well developed top formation. That's also plenty of time for the daily chart to form a negative divergence. This market may make another decent upmove in January and February, as the present euphoric condition needs a blowoff with the anticipated January effect. And why not?, with all the strastosperic internet stocks, this market can easily get to that stage as well. European markets, celebrating ECU, will help buoy the rally. Most of the zombies penny stocks have not participated in this rally. CRB index has been making new lows and is keeping down any potential inflationary pressure. BWDIK, Bubba