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

To: StockOperator who wrote (11213)	4/16/1999 10:49:00 AM
From: StockOperator	Read Replies (1) \| Respond to of 99985

How many of us are still around after the damage done the past couple of days. The drop in prices knocked off many of the weak holders. I believe Dennis, heinz, J. Strauss and others hit it right on the head with their observations on the market. We are going higher. The damage done surely caused havoc in the options pits. Remember many of the stocks that got hit had already seen huge gains. As always any break in prices has to be view in the context of the big picture. I have been calling for a breakout in the Transports for the past couple of weeks and it has delivered in a big way. The index has moved over 220 pts this week alone breaking out of a congestion area on the chart. Plus has anyone noticed that the RUT has closed higher every day for the past six trading days. Yes even with the volatility of the past week, with the NAZ getting killed, the RUT has closed higher EACH day. That to me implies strength. The chart pattern looks fast and tight which may imply that the velocity of a pending move higher could indeed be brisk. Good trading. SO