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

To: Monty Lenard who wrote (6163)	2/11/1999 10:38:00 PM
From: sargent	Respond to of 99985

Anyone notice the IBD sentiment ratings today? Bullishness hit a 12 year high (since good ol '87) at 62%+ and bearishness dropped to around 27%, which is very low. With the AD ugly and new highs/new lows unimpressive, I don't need charts, TRINs, or anything else to tell me the upside is much more limited than the down in the near future. Just my opinion - waiting for some good bargains to arise, even if it means we have to go up a little before coming back down hard.

To: Monty Lenard who wrote (6163)	2/11/1999 10:40:00 PM
From: Lee Lichterman III	Respond to of 99985

I agree and I am not going to the bull camp yet. After looking around some more tonight, I thikn what I might be seeing is an even more concerted effort to narrow the rally into only the largest and heaviest weighted stocks in the indexes to further mask the money being pulled out. As I ran through my stuff after posting last time, I found it funny that IBM, GE, PG etc were the ones that I had to swing my forks on with the only exception to that theory being MSFT yet it was already fairly highly stretched. I may risk missing out on a Monday continuation and exit my calls tomorrow after all. I forgot all about the 3 day weekend and I hate to give away premium. As for your comment about volume. I did find it strange that many high volume moves were minor in price swings. Almost as though there were only slightly less willing to sell than the huge number wanting to buy. I was looking through one stocks tape and noticed a pattern of distribution that I have seen too many times. Large buy followed by even numbered small blocks that totaled much more than those bought until the price would start to slip then another large buy and the cycle repeated. Heck I will buy 20K to sell 8 blocks of 5K at a higher price on a small volume stock. Go ahead, twist my arm <ggg> Lee