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

To: Haim R. Branisteanu who wrote (14877)	5/25/1999 2:52:00 PM
From: bobby beara	Read Replies (1) \| Respond to of 99985

Haim, i decided to leave them alone -g- It still hasn't broken down yet, it's near support, if it breaks thru 95 on nice volume it's gonna sink like a rock. This is just like last year where people got bearish at the bottom of the initial top (april-june period) then all went back on buy signals into the July top and became super bullish at the top . . and this year we even got a neglected bull to read the bears the riot act about how wrong they were, JUST DAYS BEFORE A MEGA VOLUME BUYING CLIMAX -G- A buying climax that at minimum put the top for this leg up and may be a more significant long term top. I wished he would have timed it a little better, i sold all my longs at that time only to see many of the nutz go ballastic shortly after. The first H&S failed in the nasdaq in the Jan - Feb period, I doubt this one will fail, people are very complacent long term investors in companies that have negative cash flow and have gone up several 1000% in the last year or two -g- bb