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

To: donald sew who wrote (11161)	4/15/1999 8:00:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

OK Don and everybody, go full mortgage the house short, I just went back in 50% long <ggg> >>Do you have any other support for your basis, and when do you think the rally will start<< IMO (and that isn't much) The NASDAQ and SPX/OEX looked like a hammer bottom and I am attributing this dip to options games. It has now hit the max pain area for the OEX and some of the big runners got hit hard enough for the big boys to cover their naked calls. MY TRIN chart shows us only a couple days from the rollover point to reverse back down and my individual stock charts show a lot of hammer bottoms bouncing off various support levels or close enough to call a well intended attempt <g> I know I am early but I was caught on the side for a lot of the last run and I am not seeing the internal damage that I expected to see during a drop of this scale. I just realized I didn't post a chart of the NAS 100 onteh MDA Site but if you chart out the obvious channel over the last couple months, we did a nice hammer bottom to the base of that channel also. I am waiting for confirmation before puttingin the rest of my little change but still I think we have a few more weeks of up before the reality starts to sink in to this market. Also I have noticed the last few drops were preceded by 2-3 weeks of Asian selling. They are at the point where they should start to drop but haven't yet so we could get that blow off top everyone spoke of earlier. Note that not all sectors are safe to go in by a long shot. Any further drop tomorrow in the healthcare or Drug stocks will do werious damamge to the sector TA wise. Someone at my door, have to log off, Good LUck, Lee