Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: pater tenebrarum who wrote (15022)	5/26/1999 2:47:00 PM
From: j.o.	Read Replies (1) \| Respond to of 99985

Heinz - I agree that we have more downside ahead. In the S&P right now I see us in a 4th wave churning consolidative process which could last another day or two. Maximum upside would be 1320 - the bottom of the first wave. Just so happens it's also pretty much the 50-d EMA. Funny how these things work out <g> Then a wave 5 that takes us down roughly 50 S&P points at least. I have the feeling that once we take out 1280, however, that we will see serious liquidation from people still holding stock on margin. Too many people I know were not prepared to sell when I called the break below 1320, and now they ALL want to "ride it out". Not a sign that we will see this thing go very bid...too many people waiting on the offer. It's still down from here, methinks. j.o.