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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 672.04

-1.7%

Nov 13 4:00 PM EST

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To: d. alexander who wrote (23981)	10/17/1999 4:25:00 PM
From: Johnny Canuck	Read Replies (1) of 67928

Hi Dorothy, You wondered out loud if there were any bears out there? It doesn't seem so according to the press. Most of the stories seem to be talking about bottoms being put in and how PPI news is overshadowing essentially good earning numbers. Even Barrons has a feature story on the long term bull. A quick survey around the office indicates most people as still looking to buy the dips too. I have to admit I am starting to get a little worried. I do agree we are at an oversold position for the market technically, but I am having a hard time forming a scenario where we can go significant higher at this point give the earnings outlook. Oce we get to the middle November we should see tax loss selling by the mutual funds as they need to crystallize the loses earlier than individual investors. The best case I can see is a range bound market. Sorry for not answering your earlier questions. I won't be around much the next little while, there are too many little fires at work right now. Have a good week. Harry FOMC member McTeer downplays U.S. "asset bubble" biz.yahoo.com Bay Street Beat: Spooky now, but seductive soon biz.yahoo.com Friday market re-cap optionsource.com 50% Retracements of the Dow Jones Industrial Average (INDU) optionsource.com VIX At Historically High Levels Barron's feature story Unflinching Bull - Jonathan R. Laing AN INTERVIEW WITH TOM GALVIN ~ We're in a long "cyclical profit recovery," says DJL's chief market strategist; there are more good times ahead optionsource.com One mildly bearish article WALL ST WEEK AHEAD/Seen staggering after blow last week biz.yahoo.com

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