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

To: bobby beara who wrote (14955)	5/26/1999 12:40:00 AM
From: Berney	Read Replies (1) \| Respond to of 99985

Hey, Propeller Beanie bb, That was an absolutely fantastic call (or was it a put) on ATHM. One of the best I've seen in a long time! Frankly, I agree that the nutz look real sick. You got to feel sorry for the folks that paid $200+ for AMZN. It sure looks to me that GNET, the parent of this network, broke a serious pennant. Like a lot of the nutz, down is a long way! The market reminds me of last August. Horizontal supports are broken all over the place on the Big Boyz. But, let's keep it in the perspective that the long-term weekly trading channel of OEX is huge. We will undoubtedly test the short term support at about 643 tomorrow, but the weekly lower trend line and 50 week MA are still sitting down around 592. However, it really is hard for me to ignore that the weekly OEX is giving its first sell signal since the buy signal last October. Now, the week is not over, but ... it looks weak. Berney