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

To: Stephen who wrote (16173)	6/6/1999 1:57:00 AM
From: Stephen	Read Replies (1) \| Respond to of 99985

As I mentioned a couple of posts ago ... my 10 day trin said we were ready for a bounce .... so personally I'm not expecting Don's sell-off to be anything big .....before a rally continues. Weds my intradays suggested the bounce was not to be trusted. Thursday & Friday were fine & looked strong decisionpoint.com Stephen

To: Stephen who wrote (16173)	6/6/1999 2:58:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 99985

Stephen; I'm not saying we have a big correction on our hands, at least not yet..but we could have. What I am saying is the market has run out of steam in the last month and we have so far a 5% correction that I fully expect to become 10% before she reaches for any new highs. Taht it could exceed 10% is another story and I don't need to get into taht just yet. I agree about the rates, they are stuck with taking back at least one cut, ( the last one was one to many anyway we didn't need it ) and without it we might not have gained that extra 10% we need to give back before going on. Well we have paid almost half of it back already, but the longer it takes the more dramatic it will be and the more the chance of it being more than 10%. Jim PS we will get a spike in volume when a new bottom is put in, and the Midcap400 will have dropped back below the S&P500. until taht happens the risk in this market is extremely high. It's not Liquid as long as the Mid400 is leading, and sell offs if they hit can be very severe under taht condition. ---------------------------- Say a storm hits the coast, it may not do a terrible lot of damage if it hits at low tide, but that same storm can be devastating it it hits at high tide. Well with the Mid500 up over the S&P 500 we have the same effect as a high tide, if money can now at least equalise these before a sell off hits we may be OK,,but it don't seem to be happening, and pal if they do all make for an exit under these conditions it will make last August look mild. Jim