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

To: Jerry Olson who wrote (8718)	3/22/1999 6:44:00 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 99985

the Fundies have been trailing the S&P's for 2 solid years now You do mean trailing fundamentals don't you? Just kiddin ya OJ

To: Jerry Olson who wrote (8718)	3/22/1999 6:47:00 PM
From: J. P.	Read Replies (2) \| Respond to of 99985

<<i have to think with all that sideline cash out there >> Where do you get your information about the amounts of sideline cash? Do you have a link? Thanks in Advance Jim

To: Jerry Olson who wrote (8718)	3/22/1999 7:38:00 PM
From: dclapp	Read Replies (1) \| Respond to of 99985

Jerry, First, thanks for the great posts. But I will take issue with your comment: >> I wouldn't give all the weight based on just that A/D line...it takes a lot more than that to sell these markets off... Actually, it means that the market <<is>> "selling off" and has been selling off -- for most stocks -- since last April. We're in (the last stages of, imo) an "index bull market" with fewer and fewer stocks raising the indexes. Many of us try to find a "meaningful" trend, from the universe of "pick one" indicators. Some indicator charts strike me as linear poetry and feel completely "intuitively right." This one does to me: decisionpoint.com and I defy any ta-enabled investor/trader to look at this chart and refrain from mentally drawing a descending line along the tops of those "green guys" making lower highs -- not to mention that cute head-and-shoulders in there. I'd also take exception to the "growth in Internet stocks" being "infinite." I love'em; I've had some (yahoo, amazn, abov) since IPO until recently...but I don't buy infinite growth. Ebay's PE today is 7,897. That's not a PE that a stock can "grow into," no matter how cheery your outlook is. World-changing industries aren't a carte blanche for silly valuations. Railroads, electricity, telephones, radio, all had their "mania" valuation phase, but eventually retreated to more reasonable valuations. I have few firm beliefs, but I do believe that ebay won't have a PE of 7,897 in two years :-) doug