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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: bobby beara who wrote (5424)12/4/2000 1:15:50 AM
From: J.T.  Read Replies (1) of 19219
 
bobby, that quote you extracted was in reference to the first closing day after GTW, ALTR et all pre-announced the evening before- futures were lock limit down and rarefied threads were calling for "THE BIG KAHUNA".

You will know if/when BK hits and the market more than held its own on Thursday and ate into those losses on the NDX/COMP on Friday.

My definition of BK would be DOW halted for 1/2 hour (DOW 1,200 point loss?), SPX down 70+ andCOMP/NDX down 10%+ in one day.

That said, your point of this grind down from the highs over the last 7-8 months is well taken that the generals have all been knocked down from their lofty perch levels.

Best Regards, J.T.
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