MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (4923)	10/12/2000 9:04:07 PM
From: David Lee Smith	Read Replies (1) of 19219

What a day!! I had a root canal done. Joseph Leiberman came to my home town to trash it. The markets collapsed. We got hit by a bobby trapped row boat to one of our Missile carriers in Yemen. Home Depot disappointed. More Middle East tensions. Oil prices surge. I MADE A SMALL FORTUNE ON MY PROFUND ULTRA BEAR FUND TODAY! The MomentuMonkey Indicator is very bearish, but don't look for it to be updated on my webpage until tomorrow. Tomorrow will be very important to the markets. Can the US Dollar keep up its strong uptrend in the face of military action led by Bill Clinton?? Have interest rates bottomed??? Oil and interest rates don't mix. Either oil prices have to fall (probably not before the next OPEC meeting on November 12th) or interest rates have to rise (the more likely scenario.) Momentum is great...that is if you are a bear. It's accelerating on the downside. I told my dear brother to sell every NAZ stock he owns and most everything else except deep value stocks. Put the crash helmets on gentlemen! J.T. I'm no contrarian indicator, but my track record isn't perfect. On balance, I'm having on of my best years in the market. As to my model, check my thread and my webpage that I update on occation. It explains the MomenuMonkey Indicator pretty well. It's not good at levels of market prediction nor exact turning points. It is great for trend following. And I only track the S&P 500 index. There are value calculatons of theoritical value, but over the last few years, the momentum part of the equation has made more money.

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