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

To: Compadre who wrote (10854)	4/13/1999 2:56:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

jaime choy: I am very curious to see what the DJI and COMPX does after the TYX.X stops trading today. I think that will be revealing...IMO BWDIK Regards, LG

To: Compadre who wrote (10854)	4/13/1999 3:06:00 PM
From: StockOperator	Respond to of 99985

Jaime, There are often many conflicting signals. The SOX is but one. I will admit that it pays to keep an eye on them. However, the NAZ chart itself may give us a better feel for where prices might be going. Plus I am not willing to discount yesterday's performance in light of CPQ's earnings. You do bring up a good point regarding volume. Which is usually a very good tool when used in conjunction with the overall trend. But I honestly believe that the MM's and specialist's are very good at masking their buying. I believe that they are very skilled at giving the impression of weakness when in fact they're accumulating a position. Plus the RUT is once again performing nicely. This may indeed be the story here. Watch how it handles the 429-435 area. Plus of course those trannies. Good luck trading. So

To: Compadre who wrote (10854)	4/13/1999 6:34:00 PM
From: j.o.	Read Replies (1) \| Respond to of 99985

Jaime - on the SOX do you think that there is potential for a serious double-top forming here? (looking back to August of 97...I know - it's a long time ago). Or is the fact that we have churned through it a couple of times a negation of that? But if we fail to really retake the 400 level in the next few days and then retrace a little, it begins to look a little rough. BWDIK - I don't really follow the SOX...this is just a first look for me. Thanks for the informative posts - they really help to test some of my own theories. j.o.