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

To: r.edwards who wrote (14643)	5/22/1999 9:07:00 AM
From: donald sew	Read Replies (2) \| Respond to of 99985

R.edwards, MRK appears to be near a major support. There appears to be a TRIANGLE forming(LOWER HIGHS and HIGHER LOWs), with the APEX pointing towards the low 70's and disolving in about a week. Will it break to the upside or downside. Once a triangle is dissolved it is much more common for a strong movement in either direction rather than staying flat. The overall market is weakening now and if there is a correction it will tough for MRK to pop to the upside if the whole market is correcting. seeya

To: r.edwards who wrote (14643)	5/22/1999 6:55:00 PM
From: Roebear	Respond to of 99985

r.edwards, I agree with don sew, looking at the chart, but then I mostly do gold, silver, oil stocks and have done very little with the drugs <VBG>. Like that MEXP though, how about it. Roebear

To: r.edwards who wrote (14643)	6/12/1999 10:49:00 PM
From: Roebear	Read Replies (1) \| Respond to of 99985

r.edwards, In retrospect, for educational purposes only<g>, I have followed Merck since your 5-22 post, it appears Merck has broken three necklines. Don Sew's caution was well put. This is the first time in awhile I have had a chance to take a good look at the market. I see H&S, broken necklines and 50D looking to break down through 200DMA's all over the place. I've been mostly oils the last few weeks with some oil fabs and NG stocks, and just a bit of NEM, while I was taking a home improvement sabbatical. Now I must decide if the market decline will take oils down with it and whether it will rally gold stocks. I am tempted to protect my profits (home improvement has = portfolio improvement<VBG>) by going to cash. I am very well positioned for the oils however. For example RIG is 40 % of my portfolio at 23 basis. Any opinions?? Regards, Roebear