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

To: Challo Jeregy who wrote (4545)	1/22/1999 3:33:00 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

Challo: Thanks, I have been without CNBC since I started day trading again six months ago. FNN (CNBC) and KWHY (LA Business Channel) kept me company in the eighties during my early years as a day trader...<g> KWHY was great, one guru after another all day long. Regards, LG

To: Challo Jeregy who wrote (4545)	1/22/1999 4:06:00 PM
From: NickSE	Respond to of 99985

Favor's recap: - Sees short term decline from 21st into 26th. - Extremely concerned about 60.3% investment advisor bullish sentiment (Investors' Intelligence). Highest levels seen since 1978. He's ready to close his longs at any moment because of this reading. Usually this reading precedes market tops. - Investment advisor bearish sentiment at 28.9% is very low but not extreme. - If DOW exceeds 9555 on print basis next week, it could test old highs at 9760 and go to new highs - New DOW high short term would be unsustainable. - Forecasts DOW at 10,000 by April but a significant correction prior to any new highs