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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: Postman who wrote (8489)	1/19/1999 12:22:00 PM
From: LakesideTrader	Respond to of 90042

MMTM now over 18! Does anyone on Schwab have their shares posted yet to their account?

To: Postman who wrote (8489)	1/19/1999 12:34:00 PM
From: Don Pueblo	Read Replies (1) \| Respond to of 90042

I don't buy BB deals, and Tim has asked people not to post them here, but if you want some effort, how about this: This market does not look good to me, so I want to see what happens at 2 p.m. If the Dow closes below 9000, that will be a bad sign but if it closes below 8900, which is the actual support, then things could get real ugly. Greenspan speaks tomorrow, if he says ANYTHING negative, it's not good. The COMP has formed what appears to be a pattern where if it breaks out, it could go up fast. What I think could happen is that the COMP could take out a new high in the next couple of days (or maybe next 2 weeks), and the Dow could show some "strength" that is not really strength. I would now bet money that the next up spike will be the last one for the next 3 months. IF there is another up spike. The people that missed that last down move on the COMP and are kicking themselves. They are waiting for another chance to buy. I think the next rally will be a sucker rally. Meanwhile, the market overall looks weak. I would be very cautious about holding anything overnight, and I would have all my long positions hedged. Then I would wait for a fast spike, and if it happened, I would box everything I could get my hands on. The only thing that would change my mind is some very positive overall market news and a very positive rebound on the DOW (not the COMP) in which case I would be less willing to SHORT. Interestingly, LU's reaction tomorrow to ASND's numbers tonight could be a good signal for the overall market. Right now, it's the techs against everything else, (and the techs go in predictable cycles in case you don't watch that stuff.) I have a sell signal on the INDU and a sell signal on the COMP. Neither have been confirmed by my "confirming" filter, but if you take the next move down as a signal to buy, you better be ready to be real wrong, IMHO. I don't think the techs can hold the whole market up. If the Dow closes below 8900 this week (regardless of the COMP), I'm on the "long" sidelines for however long it takes for the losers to get out of their losing positions. Could be May for all I know. Good luck with you WackyWings, dude. I hope you make money.