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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts
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To: John Pitera who wrote (9276)12/8/1999 1:51:00 AM
From: Jorj X Mckie  Read Replies (2) of 63513
 
John,
Everybody is talking about the BKX Weakness as a sign that we are on the brink of the BK. I figured that I would give my market views before I took off for the great northwest.

The bullish support line for the BKX is at 790 and the BSL tends to be good for a bounce if not a downright reversal. If we print 780 on the BKX, it would be a sign that things could get worse. I tend to believe that we will get our bounce after a few days of consolidation.

The SPX recently broke a triple top, muy bullish. It has retraced a bit, but I believe that this is due to gap filling at 1410.

The Naz has a pretty big gap down to 3450, so I hope that the market doesn't feel the urge to fill it, however it wouldn't hurt the chart if it did (I am looking at the 30pt NASD chart).

DJIA action looks like a normal retracement and it actually looks like a good place to enter.

NYSEBP doesn't seem to be budging nor does the BPOPTI. The HiLo and %10 seem to be giving an accurate short term sell signal, but they seem to be getting to the lower realms without the longer term indicators giving the sell signal.

I did buy some puts today to protect a couple of my high flyers, but I suspect that they become worthless soon.

At this point, I am still a bull.
JXM
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