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

To: pater tenebrarum who wrote (15515)	6/1/1999 6:51:00 PM
From: bearshark	Read Replies (1) \| Respond to of 99985

Heinz: You have me for company too. With fins and paws, I am a lot more interesting then Birinyi. Tomorrow, we flirt with disaster again. Here is an interesting article. cbs.marketwatch.com

To: pater tenebrarum who wrote (15515)	6/1/1999 6:56:00 PM
From: Vitas	Respond to of 99985

Heinz, the bubble in computer stocks burst in June 1983 and the biotech bubble burst in January 1992. In those instances the rest of the market did not crumble along with them. However, the dynamics now are different in that it seems that everyone and their grandmother is into net stocks, probably on margin and probably borrowing against their credit cards, and comes at a time when the 1% ema of a-d had a very unusual failure at zero. A disaster is inevitable. Birinyi does point out that he continues to see net accumulation in AOL, and that today it is as oversold as it was last September. Then it went 26% under its 50 day moving average; today it is 15% under. While we view the issue as oversold, by historical parameters, AOL could trade slightly lower from here.