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

To: StockOperator who wrote (11461)	4/19/1999 4:10:00 PM
From: Chip Anderson	Read Replies (1) \| Respond to of 99985

I assume you guys are closely following smartmoney.com Yes? The site is amazingly helpful in seeing what's happening where. Chip coolhistory.com

To: StockOperator who wrote (11461)	4/19/1999 4:19:00 PM
From: James Strauss	Read Replies (1) \| Respond to of 99985

SO: Nasdaq Decliners outnumbered Advancers by a 1.5:1 ratio... Nasdaq down volume outnumbered up volume by over a 4:1 ratio... This clearly points to the large caps dominating this selloff... quote.yahoo.com As the selling in the large caps subsides, we'll see the true positive environment for small and mid cap advances without the weight of the large caps weighing on the index... New Lows looked great again today... Jim

To: StockOperator who wrote (11461)	4/19/1999 4:33:00 PM
From: Sonny Blue	Read Replies (3) \| Respond to of 99985

>>that direction is STILL pointing higher.<< I'd doubt it, given what happened today. 140 points on NAZ is about 550 points on the DOW. Billion dollars were lost since NAZ peaked out last week. Psychological damage has been done. Market leadership does not change at the top, so all these rotations into cyclical and energy stocks is just panic money looking for the next hot story. The fundamental reasons for the selloff in techs and nets stocks are threefold in my opinion. First, profit taking must be obvious with all these big gains in Internet stocks. Second, the IRA & 401K inflow stops on April 15. Third, Compaq, Intel and Sun and many other techs have indicated a surprised slowdown in hardware/software sale due to Y2K problems, and earning visibility is close to zero going forward till year end. The trigger point was that when traders found out that Fidelity funds have sharply reduced their techs holding for the whole month of March. There you have it. The story of the tech-led crash 1999!