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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (27976)	7/19/1999 11:54:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 44573

Chip, It's a confluence of factors that market me think that this is the time area for a top of at least intermediate term proportions. The VIX and the put call levels are both strongly suggesting it. A number of time cycles have indicated that the time period between last Friday and the end of the month should market a high, with price weakness to follow through Q3. Y2K issues are coming to the forefront, from the concerns that Latin America, Asia and the Mid east do not have their infrastructure updated and hence we shall see a global slow down in corporate revenues in the multinationals. Also with Geopolitical problems escalating in China, Russia, India, Iran and elsewhere the fact that the US mkt is so complacent indicates that we should be more fearful of these situations before the next intermediate low is in place. The Net stocks have never been able to recreate the powerful upsurges that they had prior to April. If you want to point to one area. The net stocks were the ZeitGeist of the market over the past 2-3 years and we appear to have reached a saturation point in them. John