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

To: Compadre who wrote (12736)	5/3/1999 2:31:00 PM
From: Lee Lichterman III	Respond to of 99985

jaime and M2, Thanks. Pulling backa little now, lets see if this was a blowoff to scare the shorts while retesting the previous top or if this will form a bull flag here. We are pushing the top limits of all my forks now. I keep telling myself markets don't go straight up. Especially when MSFT and other prior leaders are getting slaughtered. Rotation is one thing but this seems to be more than just rotation. Note that the utilities signalled the last down turn in July last year also. The pit guys are playing with the option prices again. 150 up on the DOW and the puts aren't dropping in price any more. They are keeping the gain to risk uneven. I hate it when the kids won't play fair <ggg> Good Luck, Lee