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

To: pater tenebrarum who wrote (15303)	5/28/1999 8:52:00 PM
From: Stephen	Respond to of 99985

hb ... thanks ... I am very wary of sentiment changing. I look for market weakness thru the middle of June ... and will look to go long when Don's buy signal falls close to that date. Till then I aim to only trade ... Well ... thats the recent startegy. I have felt happier playing from the short side as there has been significant distribution over the last 4 weeks. However .... that has been changing the last couple of days. Interestingly, things looked really good Tuesday but fell apart ... so the rebound Weds may have been more significant than it looked at the time. Without the rumour Thursday, there would have been follow-thru ... and the Nas held up really well anyway..... Today looked good all day .... but I wouldn't buy into it as I wasn't comfortable with the TYX.X. Tuesday I expect it to weaken .... and sometime next week I am looking for 6% .... and we'll see how the market handles that .... but the last three days I am getting the impression that everyone in the equity market expects 6% anyway .... with the changes/rise in yield being largely ignored by the equity market. Its all very interesting. However .... bottom line is all the indices were well over 2% down for the week ... and I would be interested to hear from SO as to his thoughts. Gotta go ..... All the best Stephen