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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (14015)	4/16/2013 5:28:50 AM
From: John Pitera	2 Recommendations Read Replies (1) of 33421

Bob, the fact that this selling is occuring in Crude, Brent Crude Copper and several other commodity markets is not making me feel warm and fuzzy.......... It's early in the episode, but I am concerned about a global event that cuts the SPX in half.............everyone seems so damned complacent....... and I for the life of me can not tell you why. I have my Mayan Calendar theory which I will unroll in it's basic unvarnished....... not quite ready for prime time ...... but I better get it out there anyway...... In 1987---- we had the Harmonic Convergence occur I believe on Aug 16-17.......... and 144,000 people were needed to in essence pray for a better future...... I had just left Citbank in Australia on July 18th and the New Age people of Sydney were much more up on this and proactive on this than in many places in the US and other Western countries. so we had the stock market going vertically up in late 1986 and early 1987 and I have heard this past month several comparisons to the number of days the SPX and DJIA have been up and how some of these statistics date back to 1986 etc. so in 1987 we have this Harmonic convergence and everything seems to be OK............. yet with 10 calendar days we made the major tops in the DJIA and the SPX around August 26th.......... and the market started to trail off and we made a lower high on the eclipse of Oct 6th 1987.... and then the market started to go down..... down..... down... not to badly at first and we got to Friday OCT 16th and the DJIA was off 108-109 points... and remember that the top in August was at DJIA 2720 and change..........( everyone reading something I say should go fact check me and beat me with thick reeds for the incorrect information I post) after the secondary top on Oct 6th the DJIA , SPX and all the other indicies went south...... On Friday Oct 16th....the DJIA was down about 110 points....... Martin Zweig was a special guest on Louis Rukeyser's PBS Wall Street show and he commented that he was frankly quite concerned about a market crash on Monday. Monday Oct 19th the market collapses..... whether program selling and the huge several year run up were the culpprit is determined by the guys who pay the most money to write the history books..... The NYT was initially attributing it to Secrectary of the Treasury James A Baker III telling the German's on Friday that the US was just going to let the USD go into free fall against $/DEM and other major currencies.......the US FED came in and bought massive massive amounts of SPX futures as this was the only way to quell the panic. and it worked.... thus the invention of the Greenspan Put.. Linda Bradford Radschke in her interview in the Market Wizard books told how she keep adding to her long SPX futures position as Monday's 508 point decline progressed as the SPX futures ended up being 1200 basis points above where the cash SPX was trading.......... this was when the SPX was around 200 and change. this story has a part 2. John

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