Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Lee Lichterman III who wrote (5481)	2/5/1999 2:35:00 AM
From: neverenough	Read Replies (1) \| Respond to of 99985

The SPX closed on the low today. There's a good chance we'll test 1220 tomorrow, if we can't hold it we're in trouble and I will seriously consider shorting it. That's why I believe tomorrow will tell the story.

To: Lee Lichterman III who wrote (5481)	2/5/1999 9:50:00 AM
From: Daflye	Read Replies (1) \| Respond to of 99985

L3, like your J6P indictor, last night a few people at my bar were talking about the market. As usual I play dumb (not that hard, believe me heh heh heh). One works in a full service, financial planner's type biz. They just manage alot of money for some of Philadelphia's elite (most of whom are vaguely aware of their worth, UGH UGH UGH , old, slightly senile money). I said something like, "wow, aren't those internet stocks crazy" and "do you think the markets will crash?" She said her firm always figures in a 10% correction, but wasn't really worried about it right now. Meanwhile the hairdresser two seats down was talking about putting money into an aggressive, small cap and large cap tech fund next week. Hmmmm, contrarian indicators? Do we get the J6P bounce today/next week combined with a short covering rally???? I pulled my puts toward the end of yesterday, but I'm always early, UGH uGH UGH again, by at least a day. Can't seem to fix that. Maybe a lower VIX and short rally for the day will let me back in on the short side. edit---nope, going to sit on my hands for the day. Anyone else think that the transports are becoming increasingly irrelevant??? They really don't affect this countries greatest strengths' ie information tech and services, as much as DOW theorists would have us believe. I don't look at the strength in the transports as having any relevance whatsoever to tech, and the fact that the NDX could stand to take another 10% off the top and still outperform every other sector of our markets. Do I ignore them at my own peril??? Cheers, D