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

To: Terry Whitman who wrote (7456)	3/3/1999 10:02:00 PM
From: J. P.	Read Replies (1) \| Respond to of 99985

This year we were all set to march right back down to the 200 day moving average on the Nasdaq right after the Microsoft earnings. We were moving down very nicely when MSFT announced their delayed reaction split. Then IBM and INTC chimed in with delayed reaction splits (possibly a vain attempt to stall the inevitable), and we were off to the races again for a short period of time in a bizarre split mania move that caught me short and off gaurd. I've kept those short positions with happy (for me) results. I think we are headed back to the 200 day moving average once again. The Nasdaq has corrected down to this support line after runups, and I don't see why this time should be any different. Sure, there may be a few squiggles up along the way, but I think those holding long stock positions through this will be less wealthy for the experience. FWIW, BWTFDIK?