John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (5740)	2/28/2002 9:58:03 PM
From: Hawkmoon	Read Replies (1) of 33421

Let's hope the BKX is preparing to pull out of a slump. The monthly chart still has me a bit worried as I posted the other day (when comparing it to the XAU): bigcharts.marketwatch.com It is attempting to put in a very solid "hammer" formation on the monthly, but that 950 resistance could be difficult to break until later this year. But you're right that the BKX generally leads the economy out of the recession. Btw, I heard an interesting statistic the other day.. Apparently the amount of cash on the sidelines just prior to emerging from the '91 recession equated to 75% of GDP, providing plenty of "fuel" to fund higher equity prices. Unfortunately, even with 4 Trillion in cash on the sidelines now (2 Trillion institutional + 2 Trillion individual), it only equates to maybe 40% of current GDP, suggesting that the amount of cash to GDP is almost half what it was before this last major bull market run. Hawk

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