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

To: Arik T.G. who wrote (6042)	2/11/1999 7:08:00 AM
From: donald sew	Read Replies (1) \| Respond to of 99985

Arik, I was so close to pulling the trigger on some calls yesterday, but the attempts at rebounding thru out the day was darn weak. The first clue was when the NAZ ran up about 50 points off the intraday lows, only to give all of it back in the afternoon and close flat for the day. The absolute minimum requirement for a reversal in the DOW per my system is 75 points, which has been fulfilled. A weak reversal is in the 150-250 range. If that is all we can get, that implies more downward action soon. During JAN-MAR of 1998 when the market was running up hard, I got CLASS SELL signals and the dips were only in the 150-250 range and once only a 75 point intraday reversal, and after each small dip the market just continued up hard. If we only get a 150-250 point reversal to the upside, we could have a similar situation to that JAN-MAR upswing period,but in reverse to the downside. I will be watching the market internals, and if they do not improve significantly and immediately, and this rebound just limps, then I will will probably re-initiate some PUTs in a few days. Arik, you're making some good calls. seeya