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

To: HairBall who wrote (6495)	2/17/1999 9:52:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

LG; Trader be looking at the FED by 10:30 EST, they expect CreemSpam to add reserves, if he drains ( which I doubt ) but if he does grabbing a bounce will be like picking up a hot frying pan with your bare hands. ------------------- I don't like trying for bounces in a general down draft , even if it's not been a strong one this clicking down has been in place long enough to be called at least a short term trend. The News pundits with their damage control has highlighted the little rallies as if they are new highs. They called yesterday profit taking; "WRONG" the profit taking happened over a week ago. This was cut the losses of the more recent smos who have jumped in since the 1st. The Fed action in the last two weeks has lead the market more than any other one thing. They did add yesterday so that may help slow, or even check the fall but without their help the market is sick. Jim

To: HairBall who wrote (6495)	2/17/1999 10:07:00 AM
From: RJL	Respond to of 99985

Re: NDX 100 on Globex Hi LG, About a month ago, I thought I remembered them sinking about 40-42 points on Globex one morning, and the Nasdaq Comp. gapping down about 98 points...sinking 125 or so, then staging a stunning rally to end the day positive (I believe). It reached -4350 early this morning and again at about 9:00, then rallied to be down about -3300, yet the Nasdaq Comp, gaps down only 35 points at the open. Interesting. Considering how bad the breadth has been the past week or two, it might not have the power to rally too much today before sinking again (IMHO) Cheers, Richard