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Non-Tech : NOTES

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To: Didi who started this subject2/27/2002 4:39:38 AM
From: sun-tzu  Read Replies (3) of 2505
 
Thoughts for the day...

1) The CBOE 10 day put/call ratio is at levels seen at intermediate term market bottoms...bullish

2) The $USD, which had pulled pack into its' recent trading range broke out again yesterday...appears poised to attack the highs...bullish

3) The Naz could have tanked yesterday but made a higher high and higher low. Closed above its 5 DMA for the second strait day...bullish

4) The DOW tested support after breaking out of its' recent trading range. Currently above its 5 DMA and 22 DMA...bullish

5) Gold is retesting resistance of its' current trading range from below. Given 1-4 above, I expect it to rocket downward off of this ceiling...bullish for equities

My gut had me cover my shorts in the morning downdraft yesterday and go hard long in the midafternoon. That was pure luck.

FD: long PMCS and AES
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