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Pastimes : QQQ & DIA - chat & chart

QQQ 632.08

+0.5%

Nov 3 4:00 PM EST

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To: Jon Khymn who wrote (674)	8/19/2003 3:08:08 AM
From: Chris McConnel	Read Replies (1) of 795

My take is the market is topping, but that's a process, where as bottoms tend to be a point. The DOW has broken out, which may suck in more money, but think it will break back down again. Almost bought more puts today, but decided to wait. May buy them tuesday or wednesday. As for the bond market... the 10yr maybe signalling inflation ahead (which would be bullish for stocks) or it could be concerned about the massive budget deficit. There some interesting stuff going on in the mortgage market affecting the 10yr treasurys. Check out this article from the NYTimes: nytimes.com From the article: James A. Bianco of Bianco Research in Chicago pointed out that the last time interest rates moved up — in the mid-1990's — the mortgage-backed securities market was much smaller and more manageable. "Back in 1996, the mortgage market was roughly half the size of the Treasury market," he said. "Now it is 125 percent of the Treasury market."

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