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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chip McVickar who wrote (3162)	3/24/2004 4:31:49 PM
From: Michael Watkins	Read Replies (1) of 12410

I like the look of NDX more these days... mostly because its been heading down for 9 weeks. The NYA has not suffered nearly so much pain ;-) We shall see. I won't be all that surprised if "they" find an excuse to bid up the market and cause a gap open tomorrow. On NDX that would form an Island Reversal. I am readily willing to admit that NYA and INDU look like they could fall off a cliff here... only that earlier in March, they did! Its rare when I suddenly put a ton of cash to work all at once but the test in the ES futures this morning seemed like a reasonable place to give it a stab.. that and NDX over performance relative to SP500 intraday suggests to me that other far bigger players are thinking the same thing. Keeping an eye on bonds here too.

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