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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: drsvelte who wrote (19987)	2/20/1999 7:17:00 AM
From: Iris Shih	Read Replies (1) \| Respond to of 69990

doc, "FWIW, I thought today's market to be uncertain and searching. No real leadership, except the financials seem to be performing better each day. The techs and NAZ are really a riddle and I didn't see a whole lot of positives. INTC went south at the close after being up more than 2 and VTSS was weak all day. Some software was up. Still in a state of flux." I think the weakness of intc at the end was option expiry related. It's very tricky to read into intc's action during option expiry. Also look at vtss daily chart, two hammers in a row with good volume worth watching. Market probably will range bound for a while, so do semi equipment makers. So take profits as soon as possible either for longs or shorts. Just don't overstay. Weak volume on Naz yesterday still bothers me though. Iris

To: drsvelte who wrote (19987)	2/20/1999 3:21:00 PM
From: Johnny Canuck	Respond to of 69990

Hey Doc, laissez faire bon temps roulet indeed. Woo Wee New Orleans is one party town. I love the accent and the food. I was there last year at a conference and had a blast. Mardi Gras must just be wild. I don't think I have seen that many bars in one spot before. Being able to drinking in the street is a new concept for me too. I hope you got your collection of beads!!

To: drsvelte who wrote (19987)	2/21/1999 2:51:00 AM
From: Clint E.	Respond to of 69990

Hi Doctor. >>>>FWIW, I thought today's market to be uncertain and searching. That's an accurate way of describing the market action on Friday. Isn't it always like this after a mini-correction(10% pullback) due to the fear of being trapped in a sucker rally? There were encouraging signs in the market last week. Last Wed. was the climactic selling(112M shrs in DELL) in the NAZ and the Thursday's quick reversal was the final shakeout. The leading stocks and indices held above important support levels on Thursday. On Friday, the nets firmed up(I wasn't looking for a huge rally in them and I really don't want to see that) and the market closed higher than where it opened for a change! The afternoon selloff didn't bother me since it was mostly because the DOW wasn't ready to get thru 9400 yet. It wants to. It wants it badly. I think it is waiting for the Greenspan on Tues. before breaking out of its trading range. I expect a good week for the stock market. It is the end of the month and anybody who wanted out got out. Even Acampora got his 5-10% correction that he called for. Clint