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

To: bobby beara who wrote (12979)	5/6/1999 7:18:00 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 99985

Bobby, for the internet group to have completed it's correction would be a very important element for the blow-off top scenario. a blow-off top will not happen without participation by this group. btw,european fund managers are very underweight U.S. equities. they could very well provide the fuel for further gains; i heard a british fund manager saying he felt it was "risky" not to be in this market. let me point out though that the europeans entering the market usually also marks the beginning of the end. look for the XAU to rally further; there's very little speculation in calls on gold stocks. in fact this rally in the XAU is greeted with more skepticism by speculators than any other in the recent past. inflationary psychology is clearly back, even though inflation isn't yet. regards, hb