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

To: dclapp who wrote (8725)	3/22/1999 8:58:00 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 99985

Hello Doug.... what a terrific post...thanks from me too... actually, i know where we are at this moment...i exclusively use P&F charting from Dorsey Wright Assoc...www.dorseywright.com...super simple, service...wonderful for someone non-technical like me...they have a free trial...it's nice...anyone is welcome to look... While i fully understand your post and charts..and hey i'm not a fool...i can honestly say, i've been long and cautious for awhile now,,, in fact i posted on this thread or somewhere that we are going to retrace DOWN, from an overbought situation called a High Pole Top for the DJIA....usually they retrace 50% from the top of that High Pole...that would take us down to 1st support at 9600...if we break that, we go immediately to 9250ish...solid support...somewhere at 1260ish S&P's... Now as of this moment, i follow about 6 Market Indicators from Dorsey...."ALL" have moved down from higher numbers, they have imo, actually bottomed at these levels...not the markets levels "their" levels... Doug, about 2 weeks or so ago, 2 of these "early Warning" short term indicators actually "reversed UP"...and the others "stopped" going down...that was after we tested 9100 3-4 times...we're up now about 1000 points very quickly... so until these 2 early indicators, reverse "BACK" down again, i'm playing the long side...carefully, adroitly, with aprehension & fear<g>...but the money is on the long side...i can't make money shorting or buying puts...oh yeah i can, but hardly ever do it... anyway, thanks for your views...i appreciate the thoughts...