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

To: donald sew who wrote (7356)	3/2/1999 7:19:00 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 99985

Donald, the problem with a sideways scenario is the flood of bad news hitting the market these days. Normally, earnings warnings season does not start until the latter part of this month. We are already getting stuff like COMS, which is a huge warning. If something like INTC warns, all hell breaks lose. Further more, Asia is in sad shape. No one even reported that S&P downgraded 5 China banks. The Brazilian Real is almost half its value of just a couple of months ago. I don't see how long this news can escape attention. I am out buying canned food in preparation for the meltdown ahead. Please do me a favor and give me a read on what is the next support, if the 9050 range does not hold. Thanks in advance. Ramsey

To: donald sew who wrote (7356)	3/2/1999 7:37:00 PM
From: Haim R. Branisteanu	Respond to of 99985

Donald I also tend to agree with you that we may see a bounce soon unless some other "bad news" will surface. Some of the stocks in the high tech sector corrected quite steep, and rarely there is a straight line up or down. The broader market is not as bad as the averages indicate for the same reason that few stocks control most of the averages. Also PUT/CALL ratio is not at to high levels. I see more of a grinding type of market which will trend lower with some short squizes on the way. Again any unexpected "surprises" may change this scenario. Ideal time to sell options. BWDIK Haim

To: donald sew who wrote (7356)	3/2/1999 8:14:00 PM
From: Claud B	Read Replies (1) \| Respond to of 99985

Don, As I'm sure you know, "oversold" doesn't necessarily mean a bounce is coming. We can remain oversold for a long time....just as we can remain overbought for a decent period of time. In fact, there are some technicians who use these "areas" to initiate positions in THAT DIRECTION. As for a turn in the Bonds, this is quite possible...but for the wrong reason. If Bonds rally here, it's my opinion it will be as a result of stock money seeking a safe haven from a declining stock market. While I have no intention of disputing your signals for the past two years, I urge you to consider a much longer look-back period. I say that, of course, with all due respect. Claud