John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: nspolar who wrote (10512)	11/13/2008 11:36:54 PM
From: John Pitera	Read Replies (1) of 33421

Libor - OIS coming down nicely bloomberg.com TED spread coming back into orbit as well bloomberg.com SPX has gotten very close to the Lows of 2002 -2003. on a daily chart today was a technical breakdown from a bearish descending triangle, yet just at the point that TA would have us piling on to the short side the market reversed and ended up on the day. I have to put that in the camp of the market rallying on bad news. When this happens could the lows for 2008 in equities be identified? very very likely. We are going to see a large portion of fortune 500 companies have earnings experiencing a "reprieve from death" due to our "now cheap" relatively speaking energy costs. John.

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