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

To: Les H who wrote (14292)	5/18/1999 1:27:00 PM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Les, I believe the crude is topped out short term tfc-charts.w2d.com from the december lows i believe we have five waves up with the early april correction wave 4. alternate count we are in wave 4 now, either way we should correct back to the 16 area before further upside progress, this might relax the rates stress a bit. oils well that ends well this is shocking that crude could almost double in such a short time -g-

To: Les H who wrote (14292)	5/18/1999 1:45:00 PM
From: James F. Hopkins	Respond to of 99985

Les; My guess is that in respect to the FMOC press release, most people will read in what it is they want to see. ( generally we see what we want ) . At that point we will know if the bulls are dominate or not. I expect to see a knee jerk reaction in the direction of who has the most money to toss around, if a rally happens then shorts have to cover and it will over rally. If it falls it will get over shorted, in other words if the knee jerk is a good one in either direction , it will over do it and then I'll likely take the other side of the bet, ( short term ).. It's been a short term market anyway, with more Gaps than usual in the last month or so. Also most Gaps are getting filled no matter their direction. I'm not saying it's wise to bet opposite the Gap, but I do think it's folly to bet with it. ---------------------------- Msft filled hers early today and let me out of my qqq short , so I'm neutral right now, the tick is going some negative as 2pm draws closer , what taht means is anyone's guess. Other than if we don't rally we will fall then rally, or rally then fall, volatility sweet volatility. Jim