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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Joseph Stratmann who wrote (3598)6/27/2000 2:32:00 PM
From: J.T.  Read Replies (1) of 19219
 
Joe, you should never hesitate to add your thoughts to the thread in fear of making a mistake or that the analysis might not jive with my own. We learn when we stick our neck out on the line moreso than keeping thoughts to ourselves and not in print.

Lord knows I have made my share of mistakes.

That said, I am glad you have brought COMP 3,892 support to our attention. I tend to focus more on NDX than COMP. COMP 3,892 is good analysis since it is below 5 and 13 day MA's and if it cracks this level again today and closes below support 2 of last 3 days it is going much lower and will fill that gap b/w COMP 3,580 and 3,700 imo.

On PHCM, a serious technical break today below 74 and intraday low of 68 1/8. Now at 70 1/2 smacks. With internet gurus Mary Meeker and Henry Blodgett walking away from their Bull internet hype hoopla, I would look to cut positions here on one close below 69 1/2. I don't think Fed has anything to do with this. A simple realization that PEG growth models for these internet stocks aren't what their hyped up to be. If you have a profit in this I would sell into strength at 72 - 74 area.

Your S & P Model sounds like a winner. Have you traded off of the signals it gives you? If all supports hold right here and now, it will again be a priescient call. How much input have you put into the model?

Best Regards, J.T.
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