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

To: StockOperator who wrote (3128)	12/30/1998 3:25:00 PM
From: donald sew	Read Replies (3) \| Respond to of 99985

INDEX UPDATE ===================================== Around Thanksgiving, the DOW hit 9380 and there were numerous analyst calling for 10000 by tomorrow, and yesterday when the DOW was up 100 points many said that the Santa rally was in full force and the DOW will, not just may, set new highs by tomorrow(that is still possible). On the other hand when the DOW sold off 700 points this month, some bears were saying that the big dump was coming. I was always told, that those who trade on emotions may not be the best traders. As for the SANTA RALLY the DOW is only about 70 points above last weeks close. My understanding is that the specifics of the SANTA RALLY is the week after XMAS thru the first 2 days of JAN. So far Santa has been weak, but there are 3 more trading days left in it. I am expecting a 1-2 day upswing, and hopefully it will get close to the highs at 9380. My feeling is that if and when we get to/close 9380, it will be a good to initiate puts for a short-term trade, but the pullback could be larger than most expect. Seeya

To: StockOperator who wrote (3128)	12/31/1998 8:19:00 AM
From: Debra Orlow	Read Replies (1) \| Respond to of 99985

you have to look at the averages that are the weakest (Russ.-Trans.)......Right now those charts are still bullish. Granted, we are not out of the woods just yet StockOperator, this will be interesting to watch indeed. As I discussed yesterday morn, I had gotten a bunch of perfect sell signals on numerous index charts on Tuesday nite. Well, I got a bunch more last nite, including the RUT and WSX (Wilshire small cap). Trouble is, it's not AS perfect as I would like, since it broke out of a relatively long trend channel instead of dipping in between macd peaks. Wouldn't play this if it was an individual stock chart, but I have to give it the benefit of the doubt since there are a ton of other charts that ARE perfect, all showing that same bearish macd divergence. It might be a case of throwing the baby out with the bathwater. I'll play the bathwater tho. No matter how it works out, this sure will be interesting ....... Debra