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

To: Monty Lenard who wrote (14137)	5/16/1999 11:15:00 PM
From: TimbaBear	Read Replies (3) \| Respond to of 99985

But the selling volume didn't appear to be there....wide selling on a low volume Friday....I take it as traders taking the safe approach and taking profits....sit out the week-end and see how it all settles....I am amazed at the raw number of doom-sayers there are here and how many negative opinions can be extropolated from one unusual days trading....It seems as though some are trying to use TA to support preconceived biases rather than as a trend tool....Heck, I'm just a redneck down here in Florida, but even I know that one cold night down here can't be used to predict global cooling....You folks have an awesome array of talent with numbers crunching and graphs, I would just like to see it tempered a bit more with objectivity and humility.

To: Monty Lenard who wrote (14137)	5/17/1999 2:18:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Hi Monty; & All, I just took a peak, and so far it don't look like a bounce this morning. Futures are $2 below the cash, and $4 into sell program mode. Also Asia is being hit hard.. With the damage Friday , it looks like the crossed sword of April 14th is going to prove it should never have been ignored. ---------------------- Looking at the Daily Moving Averages it's now clear to me that this market has been in distribution for several weeks. IT seems odd that fund inflows have been up while their Navs have eased down, and I can't prove it but attribute that to mostly foreigners selling off the blue chips. The Dollar they get for them is worth more in their currency by about 5% since the first of the year. Had you bought T with Yen back then, it would be worth 5% more to you now than to those who bought it with dollars. Jim