John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (1418)	4/28/2000 12:20:00 PM
From: Chip McVickar	Read Replies (2) of 33421

John, Thank You for the chart...It's excellent..! I must spend more time with the Fib Fans, they look valuable. In the old economy and before deregulation this UTIL move might be considered defensive and a precursor of weaking market prices. But we are moving forward and this may nolonger be the case....and your sense of higher general markets may be closer to the true outcome. But also we should remember in golden days the yields of the utility sector were defensive positions. I've also been wondering if this is a topping right here for the move. What are your thoughts..? Three forks that may be of interest: 1)origin 4/25/97 spread: 6/16/99high--12/15/99low 2)origin 9/07/98 spread: same as 1 3)origin 1/04/00 spread: 2/3/00high--3/9/00low They all coverage in todays environment, but 2 are very old and not very strong. The closest off 1/3/00 is pointing significantly higher. I like it the best. Whatever happens here these prices should be sustained at these levels until the fall. >>Your forecast, which might have appeared to have been bold at the time has worked out like a full house -g-<< Thank you for these congrats. They are nice to see..! Chip

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