MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (34)	6/3/1999 10:34:00 AM
From: J.T.	Read Replies (2) of 19219

I am not impressed with the quality of this first rally try. On DOW, I really thought it would hold above 10,640, and attempt 10,750 area. This has not happened. Also, SPX failure to even reach 1,315 leads me to suggest more backtesting of recent lows. I bought July 100 DJX out of money puts @ 1 1/2 based on this knowing full well we will run into tomorrow's employment #'s. These puts could get shot down if tomorrow's report is favorable. I will take my chances here and bet the numbers show tightening labor force and hence anticipatory FED 1/4 point increase in rates by the end of June. J.T.

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