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

To: Stephen who wrote (16175)	6/6/1999 9:30:00 AM
From: HairBall	Respond to of 99985

Stephen: Last summer's correction found many a prominent SI bear, calling bottoms all the way down. At each correction consolidation (flag) many where calling the bottom. A few that proclaimed the big one, started to try and catch the falling knife almost all the way down. You don't hear that tell, just the first part...<g> Recognizing pivot points is not usually that hard, recognizing consolidations as oppose to trend changes, is the trick. Of course, if your short-term trading only, jump on the short-term play and it matters not weather it is a bottom or a consolidation. Regards, LG