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

To: pater tenebrarum who wrote (10330)	4/8/1999 7:42:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

PUT/CALL ratios for today: total CBOE: 0,60 individual equity: 0,37 OEX : 1,68 (!) VIX: 23,33 the low ratio on individual equities remains a bit of a concern, but the continued heavy OEX put volume in the face of the market hitting record highs shows skepticism is alive and well. 71,954 OEX puts changed hands today, dwarfing even yesterdays heavy volume. the VIX gave very little ground (-0,20) compared to yesterday and would have to drop to 20 or thereabouts to raise a red flag. the overall picture confirms what i keep on saying about the advance being greeted with caution and disbelief. based on this, the rally should continue. hb

To: pater tenebrarum who wrote (10330)	4/8/1999 7:52:00 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

heinz, we may have already seen the blow-off ala japan, and yes bubbles go farther than most people expect, fed chairman Warburg cried "irrational speculation" in the winter of 1929,Greenspan "irrational exhuberance" in 1996. Stocks that IPO only a couple of years ago, now have market caps larger than many of the Dow stocks, with years of track record. It was the Red Chips in Hong Kong in 1997, it's the nutz now. Hong Kong also topped with a rising bearish wedge, which is still in effect the the now market leading sector,the Dow. I think now that the street has endorsed the internet sector, i believe the trend is near the end. bb bb