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

To: donald sew who wrote (12263)	4/28/1999 3:25:00 PM
From: Les H	Respond to of 99985

The bigger the tech the faster the fall. OTX down 4.1%, NDX down 1.9%, and Nasdaq down 1.3%. The more internets that percolate into these indexes, the more volatile they'll get.

To: donald sew who wrote (12263)	4/28/1999 3:45:00 PM
From: StockOperator	Read Replies (2) \| Respond to of 99985

Don, My purpose was to point out that the avgs. have moved considerably during the month of April. When you look at those overall numbers that I gave you you have to admit those are sizeable gains for any one month period. Personally I am always on the look out for a give-back or retracement in the markets. Especially after the way the avgs have moved this month. At this stage I think all we can do is wait and hope there will be enough signs before it hits. In regards to where this rally will stop when it's over, I really don't know. There have been many numbers bantered around on this thread - 11,300 (12,000). But because I don't have a clue my strategy is to just let it run until it tires out. My goal is to catch the reversals. Not unlike our current environment in which there seems to be some very serious resistance established. These avgs. will either break up or fail and then who know they may just regroup at slightly lower levels before assaulting those areas again. It is all speculation until it happens. But at least we know what to look for. Let me also add that one of the reasons why I keep an open mind in regards to where this market could go is that one of the guys I truly respect (Don Wolanchuk) is actually predicting 16,000 for the DOW this year. Now many might laugh at that number but his record has been almost flawless the past ten years, while achieving market time of the year in almost each of those years. So who knows? Good luck trading. SO