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

To: dennis michael patterson who wrote (6860)	2/22/1999 8:35:00 PM
From: Lee Lichterman III	Read Replies (4) \| Respond to of 99985

I am still fairly bearish but I wanted to buy AOL and EMC in my kids IRA and now it looks like I waited too long. I stated this weekend that this could last a week to 2 weeks and at this rate, they could have gained a few percent before I closed them out to wait for the coming dip I still think we will get. This rally actually scares me a bit as I was hoping for a modest technical bounce but instead, we may be getting a blowoff top if it doesn't slow down quick. I am highly suspicious that GTW gets a strong buy upgrade just as the warning shots are being fired across the bow of the PC makers. GTW, IBM, DELL, MUEI all were up big today. I wonder if some of the funds want to get out of PCs really bad <ng> I am happy as stated before though that many sectors participated in this including the Russell for once. However after closer examination, many of the sector charts are still within their trading ranges, forks, resistance lines etc. I am going to sit this out for the next few days and see how it plays out and then jump on the weak ones as the momentum slows. I just checked the NASDAQ A/D and it resembles a top on my chart (not posted) so far with the last couple days rounding out and threatening to turn down. Maybe this isn't as good as it looks after all. Good Luck, Lee