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

To: StockOperator who wrote (13918)	5/14/1999 1:58:00 PM
From: Compadre	Read Replies (2) \| Respond to of 99985

SO: The indexes are breaking down in unison. This was what I was afraid of. We may get the BK today! Regaards, Jaime

To: StockOperator who wrote (13918)	5/16/1999 9:05:00 PM
From: StockOperator	Respond to of 99985

This is my second attempt at posting tonight. I had a system crash the first time (lost everything) so i'm going to cut to the chase before it happens again. After looking at my charts tonight I wanted to say that from where I am standing, overall prices for stocks and the major indexes have positioned themselves to break down. Take a look at the pattern on the VIX both short and long term. The chart is positioned perfectly for a break to higher levels. Which would imply downward pressure in the market overall. Now I don't know what news will be coming out on Tuesday with the FED but I would not try to be preemptive here. The risks to reward for playing the bullish side is not justified at this time, imo. Even a change in bias could cause a sudden downdraft in the avgs. I believe one of the key groups to keep an eye on here, if the news is bad, would be the internets. Many are already sitting on key support levels. If this is a shakeout before the breakout their downside action may be limited considering how battered they are already. Then again because it could be something worse I plan on trading strictly off what the charts are telling me. With a day a half to go the ball is firmly in the FED's backyard. Good luck this week. SO