Steve's Channelling Thread Message Board

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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (20773)	7/17/2001 7:40:37 PM
From: JRI	Read Replies (3) of 30051

Zeev- Have a dilemma for you... For the most part, I am comfortable with the down scenario after options ex (even starting earlier) here. Even heavy down. But a couple things stick in my craw. 1st- Rydex numbers are way bullish. I don't know if you follow J.T.'s Mita thread, but the Rydex numbers resemble early April.. 2nd- Weekly stochastics on both Dow and Naz are largely oversold. Dow greatly so. To get to overbought, we are looking at a minimum of 4-5 weeks burn-off...I suppose they could go have way up and turn (usually not, but let's suppose)....even then we need a couple weeks of up. Much other supporting data shows complacency, and technical breakdowns....but these 2 listed items really bug me about bear argument. Any thoughts? tia...

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