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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (110)	6/15/1999 10:02:00 PM
From: Bart	Read Replies (1) \| Respond to of 19219

JT-You think it might be time to do some bargain buying?...or is that the old falling knife scenario?-Some of these including my favorite PTEK are really beat up right now.I'm considering averaging down. Last week you TA/d PTEK and said it would be a screaming buy @ $9.5..it is nearly there!closed @ $11.25. down from $14 -15.5 a week ago.

To: J.T. who wrote (110)	6/16/1999 1:59:00 AM
From: J.T.	Read Replies (4) \| Respond to of 19219

WAS JUNE 15 RALLY FOR REAL, OR WAS IT FIBONACCI RETRACEMENT? Answer: Tomorrow is line of demarcation for next leg up or next leg down. The proof is in the pudding and the details of the numbers. As for today's market closing numbers, it was a mixed bag for bulls and bears. These are ideas for long or short going forward off of tomorrows #'s. For the BULLS: 1) SOX is white-hot and MOT is in roll reversal with INTC as heavy hitter in SOX. These two companies trade places and play musical chairs every three to four years and if market is going to run tomorrow and eventual new highs MOT is off to 120 and beyond. No new highs for market and complete market breakdown beneath 200 dma supports and this stock is a steal below 72 on a severe wash-out play. LSI also very strong. 2) CWX (Computer Software)our new baby addition to the MITA family. CWX (compliments of JL1HA1). Again, if the market runs, look at CA and ADBE and of course king kong MSFT. ERTS is poised too. If market futures is down hard prior to out of box wait till dust settles for first hour. Need to see where supports hold-- if they hold. 3)NWX(Networking) cwx cousin baby is strong. Long ideas if market breaks out are NT has had nice pullback here and is poised to run. TLAB, ALA must be in core hold. giant CSCO, and for buy out or undervalued buy and hold COMS is ripe. No long positions yet if market has distaste of CPI #. 4)XOI is red hot and one day from break-out. This could be bad omen for bulls but these stocks should out-perform in a down market. RD, AHC and even COC. XON and CHV in XOI, Dow 30 also is double play and these will run if market is to hit new highs. 5)Beaten Down Stocks in DRG like PFE, LLY, AHP and WLA. NUT Stocks like CMGI, AOL, BRCM All Long Ideas and Bets temporarily off until dust settles with bad CPI report. For the BEARS: 1)One of the easiest ways to play this for long term or retirement accounts is through indexes. For my clients, I utilize the Conseco Rydex Variable Annuity. You can short the NDX 100, the SPX 500 and the TYX 30 yr long bond. You can also go long these same indices. Let me know if you need help. 2)RUT is holding critical 832.50. The premiums in this option index are extremely steep. 3)TOB is relatively strong. I like MO in here and on any pull-back. 4)CRX Commodity Related Equity Index. BHI Baker Hughes is a must now. Good momentum and relative strength also, AHC again a double play. SLB and ARC. 5)Out of the money puts on a lock limit down market and/or bad cpi report where indexes are breaking critical supports. 6) Notice VIX is getting dangerously close to our numbers: We closed at 28.23 today June 15; this post was Thursday June 10: < VIX INDEX is popping up much higher this morning. This index is an early indicator of market trend changes. We have established two day support at 23.45 and 23.47 June 4 and June 7. Two day close below this level and market reverses back up. Resistance is at 28.70. TWO CLOSES ABOVE 29.66 AND THIS CORRECTION ACCELERATES DRAMATICALLY. > Long or short, the fireworks are going to fly the next three days. Best, J.T.

To: J.T. who wrote (110)	6/17/1999 12:14:00 AM
From: J.T.	Read Replies (1) \| Respond to of 19219

pre>MARKET INDEX LABORATORY, Wednesday, June 16, 1999 INDEX Pr Cls Open High Low Close Change %Change 12MO HI 12MO LO THE MAJORS DOW 10,595 10,598 10,800 10,598 10,785 + 190 +1.8% 11,107 7,539 SPX 1,301 1,301 1,333 1,301 1,330 + 29 +2.3% 1,368 957 OEX 660.5 660.5 678.5 660.5 677 +16.5 +2.5% 690 471 RUT 434 435.5 441 435.5 441 + 7 +1.7% 464 310 TRAN 3,351.5 3,352 3,426 3,352 3,411 + 60 +1.8% 3,784 2,345 UTIL 332 332 336 332 333.5 + 1.5 +0.4% 334 272 VIX 28.23 25.49 25.58 23.07 23.21 -5.02 -17.8% 48.56 16.88 TECHNOLOGY/SEMICONDUCTOR/SOFTWARE COMP 2,415 2,465 2,518 2,415 2,518 + 103 +4.3% 2,652 1,419 NDX 2,058 2,058 2,168 2,058 2,167 + 109 +5.3% 2,261 1,129 MSH 1,027 1,027 1,086 1,027 1,086 +58.5 +5.7% 1,099 480 PSE 543 544 566 544 566 +22.5 +4.2% 557 278 SOX 451 451 464 451 463.5 +12.5 +2.7% 431 190 CWX 661 661 706 661 706 +44.5 +6.8% 707 399 INTERNET/NETWORKING DOT 504 520 549 520 548.5 +44.5 +8.9% 790 144 IIX 262 275 284 275 284 + 22 +8.5% 358 97 GIN 384 384 437.5 384 437 + 53 13.8% 667 114 NWX 535.5 549 560 549 558.5 + 23 +4.3% 558 232 BANKS/BROKERAGE/RETAIL/CONSUMER/DRUGS/CYCLICAL BKX 833 844.5 859 844.5 855 + 22 +2.6% 932 592 XBD 378.5 378 403 378 400.5 + 22 +5.9% 530 149 RLX 850 850 878.5 850 878 + 28 +3.3% 966 588 CMR 550 554 558 554 557 + 7 +1.3% 574 444 DRG 350.5 350.5 355 350.5 353 + 2.5 +0.8% 425 304 CYC 591 591 597 591 597 + 6 +1.1% 619 392 OIL/GOLD-SILVER/COMMODITY XOI 526 526 530 522 522.5 - 3.5 -0.7% 528 377 OSX 82 82 82 78 78 - 4 -4.3% 93 47 XAU 61 61 61 60 60.5 - .5 - 1 % 87 49 CRX 216 216 216 214 214.5 - 1.5 -0.7% 229 149 30 YR. BOND YIELD TYX 6.10% - 6.085% 6.02% 6.074% MARKET INDEX LABORATORY, June 16, 1999 (PAGE 2) MISCELLANEOUS INDICES AIRLINES/TOBACCO/CHEMICAL/INSURANCE/YEAR 2000 XAL 162.5 163 168 163 166.5 + 4 +2.4% 204 116 TOB 294 294 295.5 294 295.5 + 1.5 +0.4% 326 236 CEX 515 515 517.5 512.4 517 + 2 +0.3% 547 402 IUX 640 639.5 666 639.5 652.5 +12.5 + 2 % 710 471 YTK 198.5 198.5 207 198.5 205 + 6.5 +3.3% 236 144 *PLEASE NOTE* The key breakdown in VIX with huge gap down at the open. Also, key gap open to upside break-outs in COMP, NDX, the NUTS, BKX. Rally should continue unless Mr. G. spoils the party tomorrow on capitol hill and mentions "exuberance part 2" or hints at multiple rate increases. Best, J.T.