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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (8544)9/20/2001 3:52:12 PM
From: James F. Hopkins  Read Replies (2) of 19219
 
JT; I just plugged in yesterdays numbers I hate to say it but..( it's worse )
( way worse the bulls shot their wad on with that late rally.)
They are now trapped and margin calls are going out again.
The Money in the MM belongs to the bears and they have
no reason to go long.
-------------------
The total long Assets may be at three year lows,
but the NAVS are lower, hence we still have bulls,
hanging on and borrowing money to go long.
The TA being inverted don't mean any thing in and of itself
compare the NAVS to the TAs and you'll see it.

-------------------
The VIX looks OK ( almost ) but it's not been high enough
long enough to get any kind of ignition that will push
us up beyond a half hearted rally.
--------------------
We could even slip into the black hole within a week or
two.
CNBC is desperate telling us about all the good news
and hinting at a bounce, that's real bad , just think
of who their sponsors are.

I have never seen so much bullishness in the face
of so much downside. There is no capitulation
not even a hint of it. The lower we go the more bullish
the bulls get, & we won't bottom like that.
------------------
Why does the VIX need to stay high and not drop back
at the first hint of a rally ?
Think about the PUT sellers not the buyers, it's
those sellers who have the dough to put a bottom in
& only when they sell a big bunch of them
long enough to people willing to buy the protection do they
come in and support the market.
The Bulls are broke and that MM fund now belongs to the bears.

The GreenSpam/Senate meeting today was nothing but
platitudes.
Jim
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