MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (11532)	4/8/2002 2:01:57 PM
From: High-Tech East	Read Replies (1) of 19219

In the very short term, now that IBM has warned, note that General Electric is scheduled to report earnings this week (probably Friday). In that both IBM and GE are so highly followed, both are Dow stocks, and both have made a significant percentage of their profits in recent years from their investments and pension funds, whatever GE reports could set an important tone for this earnings period. If the "commercials" are correct in being extremely bearish right now with the S&Ps, I would think that they are going to get their largest move to the down side during the height of earnings period which lies directly ahead. If not, they have made a bad bet. By the end of the month, I would expect a rally (or upside correction) in equities. And as you have accurately pointed out J.T., I have not been nearly always correct in my calls. Nor have Stephen Roach or anyone else who tries to predict or time markets. Being right 60 or 70% of the time is more than enough to make a living at this as long as we limit our losses. Ken Wilson

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