Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: donald sew who wrote (11493)	4/19/1999 8:50:00 PM
From: Readyman	Read Replies (2) \| Respond to of 99985

Your right!I am one who bought high and is now waiting for the next elevator.Can anyone could tell me if this net index will pickup tomorrow,or when it will pick up?A hint of the experts would be appreciated!Thanks

To: donald sew who wrote (11493)	4/19/1999 9:12:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 99985

I regret to inform that my charts are updated on the MDA thread except for the Dollar index. I really need to do the weeklies also since my daily charts were blown apart by today's action. I have a concert to go to in 5 minutes so I will be unable to do so until either very late tonight or else tomorrow if I get home late. All that said, this sell off is bigger than many may think. Forget the NASDAQ. Look at what has been done to the DRG and HCX sector indexes. The CWX and internet sectors were also violated badly. I have trendlines being blown through all over the place. On the upside movers, the oil index has broken through previous highs from 97 and 98. Is oil really that much higher???? The gaming index has broken through a long term resistance line but many of the big moving indexes are forming various bearish candle formations. The RUX had a bearish engulfing candle and some of the other movers had gravestone dojis. Ithink the RUX is headed down to 403 at least. With the amount of money leaving this market from the big boys and the little bit being used to move up the smaller stocks, I really fear this is no longer a healthy rotation. I think the rug is being pulled out and when the buying stops on the little guys we could drop faster and harder than most think possible. Note how fast we gave back the 200 points on the DOW and 90 points on the NASDAQ this afternoon. We either need to bounce fast or some serious damage will have been done froma TA perspective. On the bullish side, I am starting to get buy signals on many of the sector indexes but if this is a real genuine sell off, they will morph inot class 2s, then 1s then follow them down as false signals. Only time will tell. I do like your call for a bounce by the end of the week as it will play nicely to the J6P indicator but the charts don't look very good so far. As to one posters question about the NASDAQ selling off heavy then usually rebounding. That is usually indicated by a hammer bottom candle with some sort of hint of selling exhaustion being shown before the end of the trading day. Today was instead a large black candle with the day ending near the low of the day. This shows there are still plenty of sellers and too few buyers. The only thing I could see causing a bounce right now in the NASDAQ would be excellent earnings and a well worded CC call afterward from one of the big players. A bounce in MSFT might do it or EMC tomorrow. I hate to turn so bearish so fast when I was talking about buying the dip a couple hours ago but waterfall drops in charts and trendline violations tend to change my mood. <ggg> DOW to 10K again? I wish I had more time to write but I am getting evil looks from the Mrs. Have to go. Good Luck, Lee

To: donald sew who wrote (11493)	4/19/1999 10:22:00 PM
From: Les H	Respond to of 99985

>>>One must keep in mind that getting out early with profits is not >>>losing money, just losing the potential to make money. It's also called preservation of capital. Waiting for opportunity rather than chasing a train that left the station. But then it all depends on time frame. Trading the last couple of weeks depends on the positions one took and the limits on risk one imposed (read stops). Internet index (IIX) is at critical juncture, sitting at both the 50-day moving average and at the trendline support from October lows. The index is still 50% above the 200-day moving average. I still have 81% (down from 82%) sell signals so I'll sit for now.