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

To: pater tenebrarum who wrote (10286)	4/8/1999 1:45:00 PM
From: dennis michael patterson	Read Replies (1) \| Respond to of 99985

PEI Another exchange with Smith: All we know for sure is that there will be a huge move coming out of this turn. It is reasonable that you believed we meant a selloff---because that's what we think will probably happen, ---BUT---I just want to emphasize that you need to keep an open mind to the prospect that this market may rally further. The one thing that will not happen is a quiet market. I believe Volatility will be strong. If you see a High this week followed by a selloff into early next week and then a lower high formation by end of next week or early the week after, then THAT would be a nice opportunity. A LOWER HIGH is always a better opp than the ABSOLUTE HIGH---less risk! >---------- >From: Dennis Patterson[SMTP:dpatters@crab.rutgers.edu] >Sent: Thursday, April 08, 1999 7:30 AM >To: James Smith >Subject: Re: April 8 > >Mr. Smith, > >thank you so very much for such a prompt and thorough reply. > >VERY interesting that I-- foolish reader!! -- read "turning point" as a >negative. This is because there is a 9 month cycle high today. We all (my >trading pals) thought you meant a top. > >Thanks again, really appreciate it! > >Dennis Patterson