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

To: donald sew who wrote (12814)	5/4/1999 1:43:00 PM
From: dennis michael patterson	Read Replies (3) \| Respond to of 99985

Don, FWIW, Chuck Carpino called the top as yesterday or today, Favors says tomorrow, plus or minus a day, and Helene Meisler of TheStreet.com (a technician) said there would be one more rally (yesterday), then a correction. I bought May 1300 SPX puts this morning and am up from 8 7/8 to 12 at the moment. I am hoping the selling intensifies this afternoon. The market feels like it wants to go down hard. All the upmoves are quickly met with selling. This is how it looks to me.

To: donald sew who wrote (12814)	5/4/1999 2:15:00 PM
From: bearshark	Read Replies (1) \| Respond to of 99985

Don: The 20 trading days is not exact by any means and several things could change. However, it is my estimation of the length of time that we can continue to expend energy on a good market without a decline. It measures limits of past intermediate moves within this overall bull market. We are still within the historic parameters of this bull market so more energy can be expended. The decline could have started today because the market has travelled far enough already. However, I am hoping it reaches its historic limits so it is an obvious top. Now if we have a dull sideways market with little happening, then the time period could be extended.