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

To: donald sew who wrote (7880)	3/9/1999 9:34:00 PM
From: jjs_ynot	Read Replies (1) \| Respond to of 99985

Don, The near term play (next several days) appears more heavily weighted to the downside with many overbought indicators (esp. the NASDAQ). Is that your perception as well? Dave

To: donald sew who wrote (7880)	3/9/1999 9:54:00 PM
From: StockOperator	Respond to of 99985

Don, What makes this whole process of MDA so frustrating is the market seldom rewards people's expectations (the masses). Even when those expectations are grounded in logic. A perfect example would be the rise in prices on the indexes last week. With the underlying market falling apart, lousy advance-decline, common sense says that a breakdown should have been right around the corner. Market goes the other way. Or, how about the transports, that should have broken out months ago on the heals of some of the lowest energy prices in years. Now we have rising energy prices, but yet prices are still firming for many of the companies in that sector. Investing contrary to the prevailing sentiments, can often times mean, contrary to common sense. Thats why I am a firm believer in TA. The markets may be screaming "to get the hell out now before you go down with the ship" but if prices are rising on the chart. I have to go with the charts. The smart money is very good at sending the wrong messages. Or should I say the public is very good at receiving them. It's a lot of fun. Chess - War - Stock Market. They have much in common. Regards, SO