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

To: StockOperator who wrote (12492)	4/30/1999 10:57:00 AM
From: HairBall	Read Replies (3) \| Respond to of 99985

SO: I know that you keep referring to the Dow's rise the past few weeks. But, most folks have not been making the big money on the Dow issues. They have been playing the hi-techs and nuts. I think all would agree the month of April has been rough on many of those issues, at the very least volatile in some. And, depending on one's entry point denotes how rough that has been on the individual investor/trader! Surely the Market as measured by the Dow Indices has been on a rally as of late. More than I expected, but not unexpected as funds rotated seeking safer havens. You and I have been on the same side of this move except for one aspect. I thought the move into April would bring a topping process, at least medium-term. In the Hitechs and nuts, that has been apparent. But, the rotation into safer ground propelled the Dow issues much higher than I expected. Is this a staging process for a break out or is this a topping process for a larger pullback....that's an open question, that only time will reveal! Gamblers can profit if right on either call. A more cautious play would be to wait for a move in unison. It will come, but you will leave some chips on the table for being cautious, that's just how the game is played! Is today that day of unison, not for me as long as my expected retrace levels are not breached. However as you, I am keeping both eyes open to prevent previous expectations from adding bias to my current read.... After months of blatant moves, the "big boys" are working hard at keeping this one camouflaged. Regards, LG Disclaimer: My posts are my opinions only and I reserve the right to be wrong on occasion. Do not base any investment decision solely on anyone's views or analysis. Do your own research and take responsibility for your own investment decisions.

To: StockOperator who wrote (12492)	4/30/1999 1:37:00 PM
From: donald sew	Respond to of 99985

StockOperator, >>>> With respect to your point regarding prices since Mid-April. You and I have discussed this before. I just don't know how much relevance I want to place on only two week's worth of data in light of the move seen the first two weeks of the month. Could this last two week's represent a topping pattern? Perhaps. <<<< Well, I have discussed that matter extensively in my INDEX UPDATE, and I believe it is just an uncommon form of sideways trading. Sideways trading is a common topping process after a huge runup. Even with the DOW now down 55 the NAZ is still up slightly. Take from Paul to pay Mary, and vice versa. Sooner or later the Piper needs to get paid. seeya