MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (5581)	12/14/2000 10:31:18 AM
From: Kapusta Kid	Read Replies (2) of 19219

The action in BKX should be troubling for the bulls, who were placing their bets on a FED ease. The BKX might be saying otherwise. It's really the only major index still trading above its 50 day mav (and its 200 day mav). I'm on the sidelines right now until a trend is clear. I don't get in and out like some of you more agile guys. Oversold markets can, of course, get even more oversold. Sentiment is all wrong for a rally, also. Hell, I'd love another 30-40% drop from here, especially in the SP500. But I still think shorting this market can get you hurt -- whipsawed at the very least.

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