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

To: neverenough who wrote (5480)	2/5/1999 2:24:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 99985

Sorry but I disagree. As previously stated, I believe in the J6P indicator so we will hide this sell off to the best of our ability tomorrow then possibly resume it next week so that the average Joe six pack won't panic when he watches the news, Louis Rukheiser (sp?), and reads his weekend paper. Next week should tell the tail. I have the S&P sitting on a support line, the NASDAQ peeking through one, and the DOW in between a lot of lines. Regardless of near term action, I think we should see 610 OEX, 1220 SPX, and 2200 NASDAQ before the next pre earnings runs start in a couple months. I won't buy to hold more than a day until those levels are tested or internals improve. As I write this, Hong Kong is down 2.8% and Japan is down 1% but broke below 14K to 13850 and it doesn't look like there will be enough pension funds left over to prop it up prior to the close tonight. I guess Rubin didn't teach them how to run the printing presses well enough yet.<ng> Lee