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

To: Peace who wrote (10813)	4/13/1999 1:55:00 PM
From: StockOperator	Read Replies (3) \| Respond to of 99985

SO, Do you have a view on how much higher or how much longer this uptrend will continue without any significant correction. Some of the net stocks have turned lower. Would U buy them at this point? Sanjeev, my position has always been not to add my bias's or my hopes in picking market direction. I would rather say that prices continue to point towards higher or lower levels and go with that. Right now we have a breakout in three of the major avgs. With the RUT and trannies lagging behind, these two indexes are key here. They need to respond. The trannies have been weak two days in a row and are right at key intermediate term support. So I will be watching them carefully. As far as the net stocks (RNWK, INKT, and so on) In the case of RNWK I have pointed this stock out when it was under $90. The price at this level is very extended. Personally, I hate to pay full retail when there are others things in the store on sale. A trader with good TA skills can still make money. But the risks are obviously higher today than even a few weeks ago. I have been trying to catch up on yesterday's trading. So far I have found something we should all keep an eye on - the VIX actually rose yesterday and has actually been rising the last couple of days. That and the weakness in the Transports should be watched carefully. Good trading. SO