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 (5905)	1/4/2001 9:46:46 AM
From: macavity	Read Replies (1) of 19219

JT This level in the markets had been looked at for quite a while. Like BB I consider this really a re-test of the 2450/2500 test last year with bullish divergences. I missed the boat as well. 18% - I suppose I should wait for the pullback. I think I am going to start using low-delta options. So that as soon as I feel a turning point I have a low risk high return position. I was actually shaken out intra-day by the BTK down 7% when my system crashed. By the time I got my PC up and looked at the browser NDX was up 5% and I had no clue why. Unlucky - yes, but not in trouble so good. This bull has legs(though I think it is still a tech bear market rally for now) do not fight it folks. With the exception of SOX most of the tech indices have not broken their downtrends. I'll be back with my view and levels. OT: The only thing about 50 bps is a) The FED is scared - if so of what. b) The FED knows its bad - if so what exactly. What is going to happen when the TAX cuts come in? I suppose these wont have an effect for over a year so Ali G has a lot of time to move rates down or up. - macavity

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