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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Defrocked who wrote (1900)6/1/2000 11:18:00 AM
From: John Pitera  Read Replies (1) of 33421
 
Hi Def,

I saw the talk about the TED spread expanding, is this
occurring due to this so called scarcity of US Govt.
Debt? it is an interesting situation.

Are the Japanese actually working out there problems
or slipping backward, I will point out that VBear shark
about 3000 points ago on the Nikkei was
saying that he was looking for a big pullback in the nikkei
average, but over the next few months this would create
an excellent long-term entry into Japanese equities.

If we call the Nikkei low 13000 last year, and the April
High 20800 (I don't have the exact numbers right at the
moment, I believe we did 12800 something actually)

but 20800-13000 = 7800 * .618 = 4820.4

20800- 4820 = 15979.6

our recent low was around 16000, so it's something to be
aware of .....bring on the BearShark to render a verdict -g-

--------------------

----07:16 ET
30-year: -4/32..6.015%....$-¾: 108.65....Euro-$: 0.9332
Overnight FX Summary : Dollar-yen remains well placed having risen from 107.60 to 108.90 and now stands just below there. The move higher followed the break of former resistance and the 8-day range high at 108.00 which triggered stops. The move initially followed unsubstantiated rumours in Japan that another medium sized life insurance company was about to go under. Added to that, elections are due at month end and, with PM Mori?s personal rating plunging, there is speculation of a possible leadership contest within the ruling LDP...more----


John
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