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

To: j.o. who wrote (10547)	4/11/1999 2:50:00 PM
From: bobby beara	Respond to of 99985

j.o. , I am surprised Goldman is sitting on their duff, they better get with it before the end of April -g- Been looking at the telecom sector, since Lee brought it up, yes it is overbought, but is a logical place for money to rotate, and it was highlighted on the Wall St. Journal Report as the next leading sector to tech (which is now under damage control due to compaq) I have a favorable wave count that shows we should have more upside after a possible consolidation. Telephone broke out this week of a parallel flag formation and early had heard some bearish comments on it. The break was on a gap, big spread and volume. Air Touch has broken to new highs out of a bull flag consolidation pattern, and had recently heard bearish comments on it also. WCOM if it can break to new highs should rock and roll also. These charts tell me we have more upside still, though it may be rocky. Also the break to new highs on the Nasdaq on a gap, w/big volume tells me that we should have some follow thru price to that momentum. Though it will probably narrow even further. befuddled jr.