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

To: Stephen who wrote (9391)	3/29/1999 9:35:00 PM
From: Stephen	Respond to of 99985

Some of the stocks I monitor crashed out of their recent trading range today. Others showed signs of weakness in that not only didn't they follow thru, they faded more than I would expect. I like to play the second hit of the overbought 10 day trin line short - so I hope for a bounce first thing - then I am going short some techs that have shown weakness. I'm cognizant of the end of month window dressing, but the volume today was a big negative to the rally imho. Not every fund manager is looking to be fully invested e.g. ...my mother-in-law has a bunch of change from moving residence ... its over half a mil but her financial advisors are staying pat at this time and keeping the cash as they expect a correction. As most of you know, there are earnings concerns about companies such as LU& ASND, CPQ, DELL & IBM. Most of these need big back-end order fills to meet estimates. I'd include CSCO, but they always do one time charges (for acquisitions etc) that hide reality. So - despite the seemingly upward momentum, in a market that (imho) is overvalued, the percentage play given my TA is to play it short. Before acting, I will of course validate this with the intraday readings tomorrow... Good luck everyone Stephen