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

To: Compadre who wrote (2494)	12/21/1998 7:05:00 PM
From: Kris	Respond to of 99985

I can't wait to hear Debra's answer because altho the 5 minute chart might be construed (hopefully) as a short term bottom, ATHM imho looks terrible on the 15 min, 60 min and daily charts and looks to me like a short. BWDIK, just learning, too.

To: Compadre who wrote (2494)	12/21/1998 7:40:00 PM
From: Debra Orlow	Read Replies (2) \| Respond to of 99985

Monday's new highs/lows New Highs New Lows Advances Declines Unchanged NYSE 139 65 1718 1334 496 AMEX 12 29 262 352 162 NASDAQ 164 109 2027 2170 885

To: Compadre who wrote (2494)	12/21/1998 8:22:00 PM
From: Debra Orlow	Respond to of 99985

Jaime re:ATHM On the daily chart, ATHM has not made a higher high in price (high of 75 1/4 on 11/24), therefore there is not strict bearish macd divergence. Strange action today in that it closed pretty much at its low as opposed to other internuts, altho XCIT and SEEK really didn't see the close that the retail internuts did. After today's action, it has entered the oversold (yes, oversold) region in the stoch osc, altho as we all know, it can stay there a long time, just as it can stay in the overbought area a long time. As for short term divergences, neither the 5 nor the 60 minute chart shows one. (Boy, sure got dumped the last 15 minutes.) I can't say that the dumping won't continue, but it just doesn't fit my shorting pattern. Compare ATHM's daily chart with EBAY. You will see divergence with EBAY, even tho the chart is only 60 days old (I talked about this earlier today). Even tho I would have gotten stopped out had I taken my short signal in EBAY on Friday, it still is showing beautiful divergence. Not every signal works out, and EBAY would have slapped me in the face. But the sell signal is still there, and hasn't been negated like I thought it would have after today's action. There is bearish macd divergence also on the 5 minute chart of EBAY, none on the 60 minute. Would I short these stocks? Why, when there are others that are just as juicy without the mania. I put that pepto-bismol away months ago. Debra