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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (116)6/16/1999 11:04:00 AM
From: J.T.  Read Replies (2) of 19219
 
Bulls land right hook and floor Bears to the canvass as goldilocks lives and core CPI # comes in at .01%. Last nights comment:

<WAS JUNE 15 RALLY FOR REAL, OR WAS IT FIBONACCI RETRACEMENT?
Answer:
Tomorrow is line of demarcation for next leg up or next leg down. The proof is in the pudding and the details of the numbers.>

Now we look at 1 hour opening numbers which we will revisit at end of day:

DOW 10,725 + 130
SPX 1,321.5 + 20.5
OEX 672.5 + 12
RUT 439.5 + 5.5
COMP 2,481 + 66
NDX 2,125 + 67

This is our base and one good tell-tale sign if this bull has new legs and is going to rock to new highs.

On another note, I am long PIXR as they do animation for Toy Story and now Tarzan which comes out Friday. Has pulled back nicely for run to new highs, IMHO. Good relative strength and nice TA base formation. In at 42 3/16 and in July call options.

Best, J.T.
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