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

To: Robert Graham who wrote (10283)	4/8/1999 2:04:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

Robert, i never have a strong opinion regarding the long term picture, but short term it doesn't really matter to me which segment of the market is leading. rotation is a natural feature of this market and creates opportunities. regarding support and resistance levels of the net-stocks, i have learned that their volatility sometimes makes it difficult to grasp what they will do next with traditional TA methods. i have found money-flows and option premiums to be reasonably reliable guides to playing these stocks, but everyone employs his/her own trading style of course and in the end it's the results that count, not the method by which they were achieved. btw, the usual pattern would be for secondaries to run while some of the leaders correct and subsequently for the leaders to run to fresh highs and the secondaries to lag behind. so at this point i'm not all that worried by the leaders being rejected on their first try at new highs. depending on how they act near term my opinion may change of course. regards, hb