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Strategies & Market Trends : The New SEctor SPDR Funds

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To: David N. Jones who wrote (91)	3/4/1999 7:39:00 AM
From: Mr. BSL	Read Replies (1) of 122

David, I would play the oils via XLE if the oil sector turns up before the NYSEBP. A good play on XLE would be a buy at 23 with a stop at 21 based on 1/2 point P&F boxes for the XLE chart but only AFTER the oil sector turns up IMO. My daily NYSE HI/LO chart has us reversing up to Bull Alert yesterday but the 10 week moving average is still going down. Basically a mixed picture. NAS100 tested its low on Tuesday and failed. The NASDAQ tested it's 1250 low yesterday and passed. If Friday's job report is poor, the S&P500 will test it's recent low of 1205. It's tough to sit on the sidelines I know. I sold my RYDEX URSA yesterday (It shorts the S&P500) based on the NASDAQ holding its low. I will stay out unless the 10 week turns up or we have a successful retest of 1205 on the S&P500. patience patience patience!!! BTW, I still don't understand how XLF can be so strong while interest rates are rising. BPBANK went bearish yesterday. We'll see what happens. Dick

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