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

To: Ken98 who wrote (10155)	4/7/1999 9:22:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

>>Can someone please explain what happened today? This gives a whole new meaning to whipsaw. << Looks like typical whipsaw to me. New lows over 100 on the NYSE and a new record high on the DOW and SPX. A few more stocks were taken out back and shot today to provide the funds needed to prop up the golden chosen few. Anyone looked at CPWR and CTXS (note intraday low on CTXS not the close) Sector rotation seems to be headed for the banks now with a bounce off the short term lower tine. It is suspect though since my COF chart flagged an exit sell signal tonight. Also telecom is trying to rally again. QWST and T were up hard. YHOO earnings and DELL's press conference tomorrow could fuel a NASDAQ recovery tomorrow but a few things worry me and bear watching. There were bearish engulfing candles on MU and AMAT today and Hanging man formations on IBM and GTW. Hammer tops were showing on PG, GE, EMC and NOK.A. MSFT is up against the upper tine of the long term fork so money will have to go somewhere else soon to prop up the NASDAQ. As sick as this market is, if it doesn't sell off quick, warnings will be over and earnings will start exceeding lowered estimates to fuel more rally. I found it funny today that all my e-mailed business news was putting a positive spin on the earnings so far. Most companies earnerd less than last year but "beat estimates" Of course they fail to mention thatthe stocks are trading much higher on these lower earnings. bb - Fantastic call on AOL, I was trying to short that one for a week and finally gave up. You nailed it to the day. Great call and play!!! yu - You are correct in your points, however I feel that if we have learned anything in our past agressions, it is NEVER to sell your best stuff to a country that can not be guaranteed to be your ally until the technology is obsolete. While Taiwan has been a long time friend, the risk is too high to give our absolute top of the line technology to. Heck we even scale down our fighter planes before giving them to Israel and we know they will never turn on us since we are their only friend in the world. I f I ever have to be on a BUFF ready to launch Harpoon missiles on a fleet of ships, I do not want to be facing one of our own cruisers spitting thousands of rounds of AAA, missiles etc all coordinated with the highest state of the art Avionics and radar. BWDIK, Good Luck to all, Befuddled