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

To: bobby beara who wrote (11517)	4/19/1999 11:16:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 99985

bobby- The nets are the new techs.Right now they're leading us down but over time they'll rock. You definetely have to trade these suckers.Something I forgot to do on this last move up but I'm ok with holding.I beleive. I'm looking for big selling on a reversal stick tomorrow in GNET.... B*

To: bobby beara who wrote (11517)	4/20/1999 2:26:00 AM
From: Jack Luo	Read Replies (1) \| Respond to of 99985

bobby, Haven't seen your post on SI for a while, on vacation somewhere? I was on a trip last week. No Internet and CNBC for 3 days. :>( I am also watching IBM who will announce earning on 4/21. The whisper number is 1.42 vs a consensus 1.41. IBM already broke its 50dma and 100dma and sit on its 162 support. If it breaks that one, it should drag DOW with it. Another DOW component which I watch closely is GE. It broke 100dma today and bounced back after it touched its long-term trendline. GE is under selling pressure and could break trendline if techs continue down tomorrow. I agree with you that DOW is overbought and will have a pullback at least in a short term. I am currently screening DOW components to short. A few of them are looking good. I don't think selling of techs/nets is over. Most of the stocks which I am following either have their MACD right at the crossover or just made a crossover. Tomorrow is Super Tuesday and lots of tech and financial stocks will report earning. NAZ may bounce back some after consecutive selling days. This market could go either way depending on investors' psychology. Last week, even some good earning results couldn't excite the investors. It would be interesting to see how the market reacts the earnings. Many in media as well as here in this thread are talking about market rotation from techs/nets and large caps to mfg/cyclical-types and mid/small caps. I believe tachs/nets will still be the leaders. With a rising commonity and gas price, and a potential rise of interest rate, I don't know how these mfg/cyclical-types can make money to keep double digit earning growth. Techs/Nets will come back a big way once NAZ hits the bottom. At this time, nobody knows where is bottom. Hey, it's too early to talk about it. <g> Where is Bear King? It would be interesting to see his SPX e-wave charts again. I am curious to know what makes you think the bottom is near. Are you talking about riding a short bounce for quick bucks? My take on the market direction is that we may have a few bounces here and there, but the overall market, particularly tech and net stocks will continue either down or flat between now and July. 9-month cycle appears at working right now. Better be either in short position or stay out until a firm confirmation of the market bottom. Have a fun! Jack