John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jacob Snyder who wrote (5176)	12/4/2001 8:28:06 AM
From: John Pitera	of 33421

Hi Jacob, you make very , very valid points... when we get to these types of crossroads, it's often best to reduce our "Suppositions" of what we think the market should do and listen and watch how the market handles that selling that should be coming in here. Right now the XBD has broken back below it's 200 dma, but the NASD and SOX have so far held up well. the 10 year yield and yield curve have moved back lower more than they might have which is a net plus. The Fed really has helped out the equity market the past week. We had the big move in rates from 4.09 on the 10 year on 11-01-01 up to about 5.07 later in Nov, but the Fed has talked rates back down a bit, with the inference of more Fed Funds rate cutting. The BKX plunged below it's 21 dma yesterday, and it reflects the potential strife out of Argentina. stockcharts.com[h,a]daclyymy[dd][pb50!b200!b21!i][vc60][iUb14!La12,26,9] I have not had a chance to talk about Argentina hear the past 2 weeks, but we'll have to talk about it a bit this week. Speaking of the BKX...look how profoundly weak it was the 3 to 4 weeks prior to 9-11-01, It's an excellent leading indicator. John

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