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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 652.56

-1.5%

4:00 PM EST

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To: j g cordes who wrote (35030)	11/7/2001 3:24:57 AM
From: Johnny Canuck	Read Replies (1) of 68150

Hi Jim, I wish I could tell you where the market is headed as it seems to defying all the fundamentals. The technicals indicate a little more upside, but the fundamentals are lousy. While the technicals usually led the fundamentals, I can't see anything 9 months out that would support a rally above this level. The 10 rate cuts seem to have had no effect also. For the last weeks or so my index systems has been totally shot as the market has rallied on some pretty shakey news. Some news source have been floating the idea of end of year windows dressing, but I think we are too far out. While I don't believe we have entered a new bull trend. I am not ready to go net short also. I think the key is still be neutral and have a balance of shorts and long.

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