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

To: donald sew who wrote (14100)	5/16/1999 3:47:00 PM
From: Robert Rose	Read Replies (4) \| Respond to of 99985

I need more confirmation but I feel that this could be the beginning of the ending process of the INTERNET MANIA. <This process could take several months. Im using the DOT.X as the judge for the INTERNETs and believe that the highs around 825 was the top. Again, I still need more confirmation and a break below the current TRIANGLE in the DOT.X would probably do it. Im not saying that the internets will go straight down just I believe the topping process has already begun.> Donald, with all due respect, you have been saying such for months and months. Was it not so many months ago (about 6?) that you were suggesting an inet blowoff top when the dot hit 450 or so? Of course it is easy for me to play armchair quarterback as I read your posts at my leisure and choose now to make such a comment. Nevertheless, I have felt this way for quite some time, so now I am voicing it. Moreover, I have put my money where my mouth is and the result has been a 15-fold increase in the last 18 months. I know you are a TA guy, and a very good one whose posts I always read. Nevertheless, to ignore the fundamental story that is transforming all of our lives strikes me as short-sighted. Do I expect my net worth to increase another 15-fold by continuing to hold my inets over the next 18 months? No I do not. But looking at the fundamentals, yes, I would suggest that a triple would be very conservative. Anything more would of course be welcome frosting. And at this point my biggest problem is taxes, needless to say. Warmest regards and keep doing your great work. Rob

To: donald sew who wrote (14100)	5/16/1999 6:16:00 PM
From: Challo Jeregy	Respond to of 99985

Once again, thanks Donald. Your index updates are greatly appreciated.

To: donald sew who wrote (14100)	5/16/1999 9:10:00 PM
From: Gary Wisdom	Read Replies (2) \| Respond to of 99985

Don, just one comment on your updates re: new highs/new lows You mention that new lows picked up significantly. Sure, I buy that as the figures don't lie. However, really, what does that mean? IMHO, that simply means that there are about 70 stocks out there that basically suck and shouldn't be listed in the first place. When you look at them, many are derivative shares, such as preferred shares, etc. They are easily manipulated by the shorts that attempt to show the market is weakening. For example, remember how just a few months ago, the transports were weak and everyone said how weak the market is since the transports, per Dow Theory, have to confirm any upleg on the Dow? IMHO, the transports were targetted by the shorts precisely to discourage those that follow Dow theory and to give more FUD to the idiots on CNBC to scare the little guy. All the while, the major players were buying the Dow stocks, i.e. cyclicals knowing full well that they would soon be stopping the crap going on with the transports and start buying them. With the Dow up 1000 points or more in the last month, and the transports confirming, obviously this is no longer an issue. IMHO, I think the same thing is going on with new highs and lows. I really think they are manipulated. As for the new highs not hitting new highs, that I can understand. If 90% of stocks are at 80-90% of their highs, then the market can still be strong. New highs as a technical indicator is way overblown. Now, with that said,I am not as prescient as you are regarding market direction and I really appreciate your updates. They are very helpful. Just trying to add fuel to the discussion.