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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Hawkmoon who wrote (4119)	6/21/2001 5:46:46 PM
From: Chip McVickar	of 33421

Hawk.., I agree...! There were an enormous amount of options taken out with the move out of April. With expiration week out of the way and accounts squared the MM's can move on to other thoughts and we are seeing that now. We also passed the Solstice (of Gann importance) [complete with solar eclipse] and enter a traditional period of higher trending markets. 2850 on the Nasd would be about a .382 retrace off the lows. Very doable if the boys will give the public a little respite from all the selling. But it may well be a short lived rally. Personally, a weak dollar is a mistake and the Bush agenda is a mistake. These issues will become a problem in Sept Oct and November when the selling returns to square the books and bring home yearly market returns... and a new round of media pressures, causing concerns about the "Imagined Recession"..., which the country might just get talked into. We have a $50 dollar bottle of champagne economy.., having come down from a $150 bottle. Still better the hard cider. <smile> Chip

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