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

To: Vitas who wrote (12182)	4/28/1999 12:14:00 PM
From: bearshark	Respond to of 99985

Vitas: Thanks. I will watch that. However, I am most interested in seeing if the Advance/Decline Issues line will break below its low. That would be around 320 in the chart. decisionpoint.com It is my belief that before the above line turns down, there must be some punishment handed out. The numbers I have say we are nearing a top and I noted 11200 sometime before the end of next month or so. However, in yesterday's market, there was a controlled acceptance of selling pressure. I was impressed. I did not see the entire opening this morning but it appears more strength was exhibited. So, maybe I am a little low on my expected high. I am still waiting for a decline from now through the next several days. I already have my positions picked out if the opportunity arises. In stating the above, it is important to note that I trade the DJX and everything I do is focused on it. I am also partial to the DOT and the OSX and their components. However, I primarily use other indices and stocks to evaluate the players in the market. My expectations are set by analysis but my actions are entirely controlled by tape reading. At this point in the market cycle, I am betting almost entirely on people and not stocks. We have an excellent opportunity to evaluate the DOT traders now and I consider them to be as important as anyone to this market. Much of my trading philosophy is based on Edson Gould and some 19th century writers. So I may sound a bit nutty at times.