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

To: Haim R. Branisteanu who wrote (4473)	1/21/1999 9:17:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

Haim: Chart the DJI with the NYA over a ten year period. You will find you can almost overlay the two charts, daily or intraday. The Dow Industrials represent 30 stocks and the NYA the NYSE Composite, yet the moves are mirrored. The only differences is more often the DJI leads slightly. Also, compare the five minute bars intraday for today, between the DJI (Dow Industrials 30) and NDX (NASDAQ 100). They look close. Note the pivot points are at almost the exact same time. Regards, LG

To: Haim R. Branisteanu who wrote (4473)	1/21/1999 9:22:00 PM
From: Terry Whitman	Read Replies (2) \| Respond to of 99985

Haim- we all have our favorites.. I have felt most comfortable lately trading the XAU. Gold has been beaten down for years. It has very little downside risk IMO. Back in December, I saw what looked like a bottom forming in the XAU: iqc.com I went long, and held for the rally that ensued. Trailed a stop as it rallied, and was stopped out with a decent gain on the pullback last week. The rally confirmed that a bottom was found, and the good news (for XAU bulls) is that it was a much higher bottom than the previous one in late August. It may be too early to call, but it looks like another bottom is forming now. I took a smaller long position this week. Will be adding to it if it strengthens technically. TW