MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: pater tenebrarum who wrote (1405)	11/19/1999 6:50:00 PM
From: J.T.	Read Replies (2) of 19219

heinz, yesterday's "monster' rally came on the back of roughly 150 new 52 week lows vs. 90 new highs <the highest number of new lows since October 28. Option-wise, People are buying calls hand over fist vs. puts at higher levels and greater intensity then the AUG 25 high on the DOW. CBOE put/call ratio closed at .414 a near all time low. I am sure the parabolic blow-off in the NDX has something to do with it. The horney bull is in full heat. The smart bull wants the bears to throw in the towel right now so they can sell to the greater fools theory at higher prices and lock in their gains. Have a great weekend everybody. I may be back late tonight. Best Regards, J.T.

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