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

To: Bart who wrote (111)	6/15/1999 11:44:00 PM
From: J.T.	Read Replies (3) \| Respond to of 19219

Hiya Bart. Tomorrow is line of demarcation day for bulls and bears. If the CPI core rate is .01% or less the market will rally hard if there is no whiff of inflation to report. Break-out to 10,750 - 10,800 in the cards before basing out and retesting these numbers that same day and potentially getting thru these levels. If core rate is .03% or higher we will sell off hard and have initial test of DOW at 10,330 and lower band between 10,150 and 10,200 DOW before some sort of intraday minute basing formation attempts begin to take place. If core rate is .02% and overall # is .03% I believe we go back and test 10,430 DOW. As for PTEK, this stock reminds me of the action and end result of a stock we both used to own in LGND. Seems like it has all the potential in the world (like LGND), but it just can't seem to find a way to get back to the "big leagues". If the market is strong maybe you average down hard out of the blocks, but if you do, get your average cost basis to below 13 1/2 if possible so you can blow out at say 14 3/4 to 15 1/4. If you are buying and holding for the long term then obviously then this would not apply. If PTEK is weak in a strong market tomorrow, averaging down is losers game. I would not average down yet if market tanks lock limit down. Best, J.T.