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 (6218)	5/30/2002 10:09:52 PM
From: Hawkmoon	Read Replies (1) of 33421

Great Chart John... We're really at a critical technical point with regard to the Nasdaq. We really don't want to break this fibonacci retracement or we're looking at breaking previous lows. And I believe MSFT holds the key to the lock.. They really need some "remarkable" news to drive the stock higher and I just don't see it. The fact that the SEC has focused upon their practice of maintaining "reserves" which they planned on recognizing as revenues and profits in later years has come under scrutiny so they may not be able to take advantage of that strategy any longer. And with the S&P change related to accounting for options, their P/E was instantly increased with the stroke of a regulatory pen. On the monthly chart, one can perceive that MSFT is trying to put in a triple bottom. And since MSFT is effectively the QQQ, we'll have a resolution by the end of the summer. bigcharts.marketwatch.com May we pray that we avoid more significant "event risk" similiar to 9/11, as well as seeing more companies taking advantage of favorable interest and tax rates to increase CAPEX. Hawk

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