John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Terry Whitman who wrote (3370)	3/6/2001 12:09:40 PM
From: John Pitera	Read Replies (2) of 33421

Hi Terry, I really believe that the XOI (oil and gas index) is going to break out to the upside, and we should see a very nice rally ensue. It sounds like you have been waiting for the break for a while. we had 3 to 1 A/D numbers on the NASD at 10 and 11 AM today, and the NASD up to down volume was 10 to 1 at 10 AM and just about that at 11 AM. The bond market and entire yield curve has sold off very, very little today and it looks like we have less rotation going on, and more organic buying for a change. Today's a day where with tech up, energy stocks are also up, as are the cyclicals, retailers, and banks. so this is a broader rally than what we've seen the past 5 weeks. check out the chart of the CYC.X. the cyclicals are breaking out to a new high for the past 9 months. John

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