MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Rarebird who wrote (18986)	2/1/2006 4:24:31 PM
From: J.T.	Read Replies (1) of 19219

This is what I posted in my stockmarketbulls.com website on Monday night after market close: "Since Monday was essentially flat, a shake and bake over the next 2-3 trading is a HIGH PROBABILITY BET. If Tuesday morning is up in the morning, it could pullback from the intraday highs in the afternoon after FOMC announcement and/or turns red into Tuesday close. What would really screw me up is if we powered HIGHER into the close. But, with GOOG comes out after the close, they MAY SELL IT HARD on Wednesday. I am perfectly content to be in CASH and let the market play out its hand. "I do not know how Tuesday will play out, but I have a gut feel Wednesday could be UGLY in the morning. What I do not know is if Wednesday afternoon will accelerate to the downside or reverse and close strongly". It certainly wasn't nearly as ugly as I thought it might be in the AM. I must confess I was short NDX Venture and SPX Tempest for ONE day, but I closed these positions out before end of day cut-off today at a small loss. I have already put on a new position before close. Cheers, JT

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