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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Chip McVickar who wrote (408)	3/11/2000 11:26:00 AM
From: robert b furman	Read Replies (2) of 33421

Hi Chip, WOW, the opinions on John's thread here are excellent!!! ( Thanks John). GZ's rally of last week you reference could be viewed with suspicion as it was the first new high in the naz made on declining volume (from the previosu day) since feb 7 th. Volume has also tailed off on the NYSE relative to the previous day (even though price had a nice pop up to 1010.73) - suspicious is a rally up on light volume. My nose still smells equity slowly sneaking out!!! I remember a wise guru who once posted "Trading 101 - Do NOT step out in front of declining dollar with long position. Not sure but I think his initials were GZ <G> Last ,but not least there are many stocks getting quiet(lighter volume on failed attempts to reach new highs).Cohu,Intt,Sbse,Asyt are just some I watch and its beginning to look puny up there. Thanks to all the great minds who contribute a well balanced perspective here. siliconinvestor.com This appears to be ominous to mehttp://www.siliconinvestor.com/research/chart.gsp?lotemp=&period=120&chart1=ma&s=%24INX&compare=&time=15m&i0=8&chart=candle&i1=6&scale=log&i2=3&i3=4&rbv=1&wpr=0&cci=60&obv=5&dmi=20&macd2=26&macd1=12&sd=5&sk=12&mt=22&rsi=14&lr=25&bbpct=200&bbprd=200&ma1=5&ma2=20&macds=9&smaema=1 Bearish engulfing candle makes me think a short on DIA monday morning is my best short term playhttp://www.siliconinvestor.com/research/chart.gsp?lotemp=&period=120&chart1=ma&s=indu&compare=&time=60m&i0=8&chart=candle&i1=6&scale=log&i2=3&i3=4&rbv=1&wpr=0&cci=60&obv=5&dmi=20&macd2=26&macd1=12&sd=5&sk=12&mt=22&rsi=14&lr=25&bbpct=10&bbprd=200&ma1=5&ma2=20&macds=9&smaema=1 Bob

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